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08.05.2018 12:09 AM
Trading plan for the US session on May 7 for the EUR/USD

To open short positions on EURUSD, it is required:

Demand for the euro in the area of support level 1.1927 is missing. In its breakdown, it is best to postpone long positions until the update of new weekly lows in the area of 1.1866 and 1.1830. Returning to 1.1927 in the second half of the day will make it possible to count on a larger increase to day highs in the resistance area 1.1975, where I recommend fixing profits.

To open short positions on EURUSD, it is required:

A rush and consolidation below support 1.1927 makes it possible to count on a new wave of selling of the European currency with a test of monthly lows in the area of 1.1866 and 1.1830, where it is recommended to consolidate profits. In case of return to resistance level 1.1927 already in the second half of the day, it is recommended to go back to the selling of the EUR/USD at the level of 1.1975.

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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
  • Bollinger Bands 20
Miroslaw Bawulski,
Analytical expert of InstaForex
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