Trading plan for the European session on August 22 EUR / USD

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

Yesterday, all the customers' goals were worked out. Today, you can take a closer look at long positions after returning to the resistance level of 1.1579 in order to reach new highs 1.1617 and 1.1653, where I recommend fixing the profits. In the case of a decline in the euro in the morning, the signal to buy will be a false breakout at 1.1538, or a rebound from a larger support of 1.1493.

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

It is best to consider short positions after the formation of a false breakdown and return to the resistance level of 1.1579. The first target of the sellers will be the lower limit of the channel of 1.1538, and the main task will be a decrease to the level of support 1.1493, where I recommend fixing the profit. In the case of EUR / USD growth above 1.1579, you can sell immediately for a rebound from resistance 1.1617.

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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