EUR/USD: plan for the American session on June 10. Euro buyers found support around 1.1290
June 10, 2019 2:21 pm
To open long positions on EURUSD, you need:
It is expected that buyers of the euro began to return to the market after the test of the support level of 1.1290, as sellers again took a wait-and-see position and did not push the pair below. At the moment, while trading is above the range of 1.1290, the demand for EUR/USD will remain, which can lead to an update of the resistance of 1.1330 and even to its breakthrough. Only after that, it will be possible to talk about the continuation of the upward trend with an exit to a maximum of 1.1366 and 1.1392, where I recommend fixing the profit. In the scenario of a repeated decline in the support area of 1.1290, it is best to return to long positions on the rebound from the minimum of 1.1253.
To open short positions on EURUSD, you need:
Bears need to push the pair again to the support of 1.1290, which will necessarily lead to its breakthrough and the descent of EUR/USD to the minimum area of 1.1253, where I recommend fixing the profits. A false breakout and an unsuccessful consolidation above the resistance of 1.1330 in the second half of the day will also be a signal to open short positions. Otherwise, it is better to sell the euro on a rebound from the new monthly high around 1.1366 and 1.1392.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates the uncertainty of the market.
Bollinger Bands
In the case of the growth of the euro in the second half of the day, the upper limit of the indicator in the area of 1.1350 will act as resistance. A break of the lower border in the area of 1.1300 will lead to a decline in the euro.
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
To open long positions on EURUSD, you need:
It is expected that buyers of the euro began to return to the market after the test of the support level of 1.1290, as sellers again took a wait-and-see position and did not push the pair below. At the moment, while trading is above the range of 1.1290, the demand for EUR/USD will remain, which can lead to an update of the resistance of 1.1330 and even to its breakthrough. Only after that, it will be possible to talk about the continuation of the upward trend with an exit to a maximum of 1.1366 and 1.1392, where I recommend fixing the profit. In the scenario of a repeated decline in the support area of 1.1290, it is best to return to long positions on the rebound from the minimum of 1.1253.
To open short positions on EURUSD, you need:
Bears need to push the pair again to the support of 1.1290, which will necessarily lead to its breakthrough and the descent of EUR/USD to the minimum area of 1.1253, where I recommend fixing the profits. A false breakout and an unsuccessful consolidation above the resistance of 1.1330 in the second half of the day will also be a signal to open short positions. Otherwise, it is better to sell the euro on a rebound from the new monthly high around 1.1366 and 1.1392.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates the uncertainty of the market.
Bollinger Bands
In the case of the growth of the euro in the second half of the day, the upper limit of the indicator in the area of 1.1350 will act as resistance. A break of the lower border in the area of 1.1300 will lead to a decline in the euro.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: