15.08.201810:22 Forex Analysis & Reviews: Trading plan for the European session on August 15 EUR/USD

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

The longest positions in the euro are best returned after the formation of a false breakdown at the intermediate support level 1.1313, which will lead to an upward correction to the 1.1371 resistance area. A consolidation above this level will allow to update the weekly maximum in the 1.1431 area. In the event of a further decline in the euro, long positions can be found in the support areas of 1.1251 and 1.1215.

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

The formation of a false breakout at resistance 1.1371 or a return to support level 1.1313, will be another signal for opening short positions in the European currency with the target of breaking the weekly minimum and renewing refreshed areas 1.1251 and 1.1215, where it is recommended to fix profits. In case of an increased in EUR/USD pair above 1.1371 in the morning, you can sell for a rebound from 1.1431.

Indicators Description:

• MA (average sliding) 50 days - yellow
• MA (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20

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