Trading plan for the European session on May 30 for the EUR/USD

To open long positions on EURUSD it is required:

Buyers need to get to resistance level 1.1584, but the first test of this level is unlikely to lead to its breakdown. Only binding on the band closer to the second half of the day will be a good signal to an increase in long positions in the euro, based on the updated resistance 1.1636 and 1.1683, where it is recommended to record profits. In case of a decline in the euro in the morning, buying will be relevant after the monthly lows are updated in the area of 1.1482 and 1.1440.

To open short positions on EURUSD it is required:

Unsuccessful consolidation above 1.1584 with the return under this level could lead to a new wave of euro selling, which will aim to break and consolidation below the low of 1.1520 yesterday to support update in the area 1.1482 and 1.1440, where it is recommended to record profits. In the case of growth above 1.1584 in the morning, selling the euro can be on the rebound from 1.1636.

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Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 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