FX.co ★ Trading plan for the European session on February 27 EUR / USD

EUR / USD

To open long positions for EURUSD, you need:

While the trade is still above the level of 1.2316, the chance remains for euro buyers to grow further. A breakthrough of the upper border of the channel in the area of 1.2354 and a fastening at this level will be an additional signal to increase long positions in the EUR/USD with an update to new highs around 1.2404 and 1.2468, where it is recommended to lock in profits. In case of a decline in the euro in the morning under the level of 1.2316, buying can be done on a false breakout in the area of 1.2282 or on a rebound from 1.2240.

To open short positions for EURUSD, you need:

The formation of a false breakout at 1.2354 will be the first signal for short positions in the euro with the main goal of lowering and consolidating under the intermediate support level of 1.2316. The breakthrough at this level will lead to larger sales with an update to 1.2282 and an exit at 1.2240, where it is recommended to lock in profits. In case of growth above the level 1.2354, the best way to sell the EUR / USD is to return to 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 9

Bollinger Bands 20