FX.co ★ Trading plan for the European session March 7 EUR / USD

To open long positions for EURUSD, you need:

While the trade is above the level of 1.2404, one can count on the continued growth of the euro in the short term, with the update of already new monthly highs to the area of 1.2458 and 1.2502, where it is recommended to lock in profits. In the event of a return to the level of 1.2404 in the morning, it is best to return to long positions on a false breakout near the level of 1.2375 or on a rebound from 1.2348.

To open short positions for EURUSD, you need:

The goal of the bears for today will be a return and a consolidation below the support level of 1.2404, which could lead to a downward correction to the area of 1.2375 and to the renewal of a larger level of 1.2348, where it is recommended to lock in profits. In case of continued growth of the euro in the morning, you can look for short positions after the resistance test 1.2458 or on a rebound from 1.2502.

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