Trading plan for the European session on June 7 EUR / USD

To open long positions for EURUSD, you need:

While the trade is higher than 1.1780, the demand for euro will continue to be maintained and the main task of buyers for the first half of the day will be a breakthrough and a consolidation at the level of 1.1828. Above this level, new monthly highs of 1.1875 and 1.1923 will open and it is where we recommend locking in profits. In case of a decline under the support level of 1.1780, buying is best on the test at 1.1739 or on a rebound from 1.1695.

To open short positions for EURUSD, you need:

The unsuccessful consolidation above the resistance level of 1.1828 with a return to it will be the first signal for opening short positions in the euro with the first goal of reducing to the important support level of 1.1780. The consolidation under this level will lead to the formation of a larger downward correction to the areas of 1.1739 and 1.1695, where it is recommended to lock in profits. In case of growth above the level of 1.1828, selling the euro can be done on the rebound from 1.1875 and 1.1923.

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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