Trading plan for the European session of EUR / USD pair on May 11

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

A more acceptable level for purchases of the European currency today is located in the support range 1.1870-1.1876. The formation of a false breakout in that range will be a good signal in the opening of long positions in the euro in terms of a breakout and consolidation above the resistance of 1.1927, from which one can expect to update the new highs in the areas of 1.19175 and 1.2019, where fixing profits are recommended.

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

Failure to consolidate and return to the level of 1.1927 will be a good signal in the opening of new short positions in the euro in terms of declining and testing a new support level 1.1876, from which one can expect to update the new highs in the areas of 1.19175 and 1.2019, where fixing profits are recommended.

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Description of indicators

  • 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 material has been provided by InstaForex Company - www.instaforex.com