FX.co ★ Trading plan for the European session on September 4 EUR/ USD

To open long positions for EUR / USD, you need:

The situation of the European currency has not changed since yesterday. It is best to consider new euro purchases after the formation of a false breakout at the 1.1594 level, which can lead to growth and renewal of resistance 1.1633, and consolidation above which will open a direct course to the maximum in the 1.1686 area, where it is recommended to fix profits. In the event of a further decline in the EUR/USD, long positions can be opened immediately for a rebound from 1.1538 support.

To open short positions for EUR / USD, you need:

Short positions in the European currency are best seen after the formation of a false breakdown at 1.1633, or immediately at a rebound from resistance 1.1686. The main task of sellers for the first half of the day will be consolidation below the 1.1594 support. This will lead to a new wave of selling of the European currency with a test of a minimum of 1.1538, where it is recommended to fix profits.

Indicator Description:

• MA (average sliding) 50 days - yellow
• MA (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20

* The presented market analysis is informative and does not constitute a guide to the transaction.