Trading plan for the European session on June 12 for the EUR/USD

To open long positions on EURUSD it is required:

Euro buyers today in the first half of the day should return to resistance level 1.1777, above which a larger upward wave will lead to the renewal of yesterday's highs around 1.1821. The main target for long positions will be to go beyond 1.1821 and update the area 1.1869, where it is recommended recording profits. In case of a decline, one can buy the euro on a rebound from 1.1692, or on a false breakdown from support of 1.1730.

To open short positions on EURUSD it is required:

Failure to secure above 1.1777 with a return to this level in the first half of the day will be the first signal for the opening of short positions in euros with the main target of breakdown and consolidation below support 1.1730, which will lead to the formation of a larger downward wave to 1.1692 and 1.1657, where it is recommended to record profit. In the case of growth above 1.1777, selling the euro can be on a rebound from 1.1821 and 1.1869.

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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