FX.co ★ Trading plan for the European session on March 6 EUR / USD

To open long positions on the EURUSD, you need:

While the trade is above the level of 1.2345, one can count on the continued growth of the euro in the short term with the update of new monthly highs in the area of 1.2404 and 1.2458, where it is recommended lock in profits. In case of a return to the level of 1.2346 in the first half of the day, it is best to return to long positions after a false breakout at 1.2320 or on a rebound from 1.2283.

To open short positions on the EURUSD, you need:

A return to the level 1.2345 will indicate the inability of buyers to continue the growth of the euro which will lead to a quick sell-off with a drop to the middle of the channel at 1.2320 and then to update its lower border to 1.2283, where it is recommended to lock in profits. In case of growth of the euro in the morning, one can sell on a rebound from 1.2404.

Indicator description

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20