Trading plan for the European session June 6 EUR / USD

To open long positions for EURUSD, you need:

Buyers need to get above the level of 1.1736. This will be a good signal to buy the euro based on the continued growth in the area of 1.1785 and 1.1828, where it is recommended to lock in profits. In case of a decline in the euro in the first half of the day, the interim support will be the area of 1.1697. However, buying at this level is best only in the event of a false breakdown with a return to this level. Buyingto rebound is best at the lower border of the channel of 1.1657.

To open short positions for EURUSD, you need:

The unsuccessful consolidation above the resistance level of 1.1736 and a return at this level will be the first signal for opening short positions in the euro with the goal to reduce the middle of the channel at 1.1697 and then update the lower limit in the area of 1.1657, where it is recommended to lock in profit. If the EUR / USD pair rises above the level of 1.1736 in the morning, selling is best from the levels of 1.1785 and 1.1828.

analytics5b17703f1641c.png

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