05.04.201803:08 Forex Analysis & Reviews: Trading plan for the US session on April 4 EUR / USD

To open long positions for EUR/USD, you need:

To resume the growth of the single European currency, buyers need to consolidate above the resistance level 1.2297, from which it will be possible to count on the repeated renewal of yesterday's high testing the resistance at 1.2329. Further target will be the update of the 1.2358 level with an exit at 1.2380, where it is recommended to fix profit. In case of another unsuccessful fastening to 1.2297 against the backdrop of good US data, then long positions can be sought on a false breakout near 1.2240 or on a rebound from 1.2195.

To open short positions for EUR / USD, you need:

The next period of false breakdown and return to 1.2297 level or consolidation below the support 1.2276 will lead to a new wave of sales of the European currency, with the main target of reaching the 1.2240 level and update the support 1.2195 where it is recommended to fix profits. In case of growth in the euro above the level of 1.2297 on the US data, it is recommended to look for short positions after updating resistance 1.2329 or to rebound from 1.2358.

Indicators description

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

* The presented market analysis is informative and does not constitute a guide to the transaction.