FX.co ★ Trading plan for the European session on April 16 EUR / USD

To open long positions for EURUSD, you need:

The main task of buyers remains to be the return to the resistance level of 1.2345. Going above this level is the only way for it to be possible to count on a repeated attempt at growth in the range of weekly highs near the area of 1.2373 and 1.2405, where it is recommended to lock in profits. If the pressure on the euro continues, opening new long positions is best after updating the support level of 1.2307 or on a rebound from the level of 1.2264.

To open short positions for EURUSD, you need:

While the trade is below the level of 1.2345, the pressure on the euro will continue and the failure to secure and return to this level will be an additional signal to open short positions in the euro in order to update the support level of 1.2307 and an exit to the level of 1.2264. The testing of these levels will prove the resumption of the downtrend. With growth above the level of 1.2345, selling the euro can be immediately done on a rebound from the resistance level of 1.2373.

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