01.03.201803:04 Forex Analysis & Reviews: Trading plan for the US session on February 28 EUR/USD

EUR/USD

To open long positions for EURUSD, it is required:

Buyers are doing their best to keep it above 1.2208, and have already made several false breakdowns, but the demand for euros is still missing. While the trade is above 1.2208, you can still expect a correction to 1.2247, and there is an attempt to exit towards the area of 1.2297. In the event of a decline below 1.2208, it is best to postpone purchases to a larger support level of 1.2171 or even lower, to 1.2127.

To open short positions for EURUSD, it is required:

A retest of 1.2208 will certainly lead to the breakdown of this level and an increase of short positions in the euro, which will allow an update of the lows in the area of 1.2171 and 1.2127, where I recommend locking in profits. If the euro rises above 1.2247, it is best to hold back from selling until the resistance of 1.2297 is renewed.

Indicator description

• Moving Average (average sliding) 50 days - yellow
• Moving Average (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA
• Bollinger Bands 20