FX.co ★ Trading plan for the European session on 23 May EUR / USD

To open long positions for EURUSD, you need:

The formation of a false breakdown at 1.1747 is the only thing that will maintain the growth of the European currency, which will lead to a second attempt to get to the resistance level of 1.1786. This can be added to long positions in expectation of renewing the area of 1.1828, where it is recommended to lock in profits. In case of a breakout at the level of 1.1747, buying the euro is best after a return to a rebound from 1.1706, or even lower, to around 1.1673.

To open short positions for EURUSD, you need:

The consolidation below the support level of 1.1747 will be a good signal for the continuation of the downward trend in the European currency, which will lead to the renewal of new monthly lows in the areas of 1.1706 and 1.1673, where it is recommended to lock in profits. In case of euro growth in the first half of the day, selling is best from the level of 1.1786, or on a rebound from 1.1828.

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