EUR / USD plan for the European session on May 28. Euro buyers still have a chance to resume growth

To open long positions on EUR / USD pair, you need:

The upward momentum in the pair is slowing down, but there is still hope for its continuation. To do this, you need to get above the resistance of 1.1196, where the demand for the euro will increase. This will lead to an update of the highs of 1.1218 and 1.1243, where the upper limit of the current ascending channel is located. In the event of a decline in the euro against the background of weak data on lending and consumer confidence, support will be provided by the area of 1.1170. But to open long positions from it, it is best when the false breakdown is formed. I recommend buying EUR/USD for a rebound only after testing the minimum of 1.1143.

To open short positions on EURUSD you need:

False breakdown and a decline below the resistance level of 1.1196 will be a signal to open short positions in euros. The main task for the first half of the day will be to return to a major support level of 1.1170, which will increase the pressure on the pair and will lead to an update of the minimum of 1.1143, where I recommend fixing the profit. With a scenario of good fundamental data and an increase in consumer confidence in the Eurozone, it is best to return to short positions in EUR/USD pair after updating the maximum of 1.1218 or to rebound from a larger level of 1.1243.

Indicator signals:

Moving averages

Trade is conducted just below 30 and 50 moving averages, which indicates a probable return to the market of euro sellers.

Bollinger bands

In case of euro growth in the first half of the day, the upward trend may be limited by the upper limit of the indicator in the region of 1.1200.

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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

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