EUR/USD: plan for the European session on June 10, 2019

To open long positions on EURUSD you need:

Against the background of the euro’s strong growth and speculative purchases on Friday afternoon, major players have recorded a profit. Continuing the further trend without a good downward correction will be extremely difficult. It is best to open long positions on a rebound after updating the low of 1.1285 or after the test of support for 1.1253. The main task of the bulls in the first half of the day will be the level of 1.1336, consolidation on which will keep the upward momentum and will lead to the update of highs of 1.1366 and 1.1392, where I recommend to lock in the profit.

To open short positions on EURUSD you need:

Sellers will try to break through the support of 1.1304, however, the main task will be to consolidate at a low of 1.1285, which will lead to a larger sale of EUR/USD to the areas of 1.1253 and 1.1203, where I recommend to lock in profits. With the euro growth scenario in the first half of the day, short positions can be seen in the rebound from a resistance of 1.1336, where bears will try to form the upper limit of the new downward channel. With growth above 1.1336, it is best to consider selling the euro after updating highs of 1.1366 and 1.1392.

Indicator signals:

Moving averages

Trade is conducted just above 30 and 50 moving averages, which maintains the hope of buyers for continued growth.

Bollinger bands

In the event of a decline in the euro, support will be provided by the lower boundary of the indicator in the area of 1.1285, while the upper limit in the area of 1.1350 will act as resistance with growth.

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

The material has been provided by InstaForex Company – www.instaforex.com

Source:: EUR/USD: plan for the European session on June 10. It will be hard for the euro to continue to grow