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13.06.201809:09 Forex Analysis & Reviews: Trading plan for the European session on June 13 EUR / USD

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

To open long positions for EURUSD, you need:

Today, euro buyers should return to resistance level 1.1776 in the first half of the day. Above this level, a larger upward wave will lead to the renewal of yesterday's highs of around 1.1821. The main goal for long positions will be to go beyond the level of 1.1821 and update the area of 1.1869, where it is recommended to lock in profits. In case of a decrease in buying the EUR, it is possible to form a false breakout in the area of 1.1730 or to rebound from larger areas of 1.1692 and 1.1657.

To open short positions for EURUSD, you need:

An unsuccessful fastening above the resistance level of 1.1776 with a return to it in the first half of the day will be the first signal for opening short positions in the euro with the main goal of breakdown and consolidation below the support level of 1.1730, which will lead to the formation of a larger downward wave to 1.1692 and 1.1657, where it is recommended to lock in profits. In case of growth above the level of 1.1776, selling the euro is best on the rebound from 1.1821 and 1.1869.

Exchange Rates 13.06.2018 analysis

Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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