Trading plan for the European session on 10 May EUR / USD

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

For today, the challenge for euro buyers is a breakthrough and consolidation above the resistance level of 1.1882, which will allow us to expect a larger upward correction to the area of 1.1927 and 1.1975, where I recommend fixing the profits. In the case of a decline in the euro in the morning, purchases can also be found after the support test at 1.1825 and on the rebound from 1.1792 and 1.1765.

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

An unsuccessful consolidation and return to the level of 1.1882, as it was yesterday, will be a good signal for the opening of new short positions in the euro in terms of reducing and re-testing the support level of 1.1825. Only the breakdown of this level will lead to the sale of EUR / USD to the area of 1.1792 and 1.1765. If the euro rises above the level of 1.1882 in the first half of the day, sales may return to a rebound of 1.1927, or better after the renewal of resistance at 1.1975.

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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