FX.co ★ Trading plan for the European session on March 12 EUR / USD

To open long positions on the EURUSD, you need:

While the trade is below the level of 1.2332, the pressure on the euro will continue. Buying the EUR / USD pair is best after declining to the larger support area of around 1.2275 and 1.2233. The breakdown and consolidation above the level of 1.2332 will allow us to update to the resistance level of 1.2367, where it is recommended to lock in profits.

To open short positions on the EURUSD, you need:

As on last Friday, the goal of the bears for today will be the formation of a false breakout at the level of 1.2332, which will be the first signal for the opening of short positions in the euro. A repeat support test at the level of of 1.2304 will also lead to an increase in short positions and a sellout of EUR / USD pair with a yield of 1.2275 and 1.2233, where it is recommended to lock in profits. In case of growth above the level of 1.2332, it is best to sell for a rebound from 1.2367.

Indicator description:

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20