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

EUR/USD

To open long positions for EURUSD, it is required:

Buyers were unable to reach the level of 1.2458, and are trying to get a hold of 1.2404. While the trade is above this range, you can expect a re-exit to the level of 1.2458, where I recommend locking in profits. In case the euro declines in the afternoon, long positions can be considered for a rebound from 1.2348.

To open short positions for EURUSD, it is required:

A retest at 1.2404 will lead to a breakdown of the level of support and selling of the EUR/USD in the area of 1.2375 and 1.2348, where I recommend locking in profits. If the euro rises in the second half of the day, short positions can be considered after an update of the resistance at 1.2458.

Indicator description

• Moving Average (average sliding) 50 days - yellow
• Moving Average (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA
• Bollinger Bands 20