FX.co ★ EUR/USD plan for the US session on May 27. Buyers are preparing the lower level of the new rising channel

To open long positions on EUR / USD pair, you need:

The lack of important fundamental data led to a slight downward correction of the euro. However, buyers are trying to build the lower boundary of the rising channel in the support area of 1.1192. False breakdown at this level will be a signal to open long positions in the pair with a test of maximum at 1.1222, where I recommend today to take profits. With a further decrease in EUR/USD pair, you can immediately look at the rebound from the 1.1171 low.

To open short positions on EUR / USD pair, you need:

It is unlikely that the bears in the afternoon will actively try to break through the support of 1.1192 but for them, this is the primary task. Fixing below this level will lead to a further decline of EUR/USD in the area of minimum 1.1171 and 1.1149, where I recommend taking profits. When trying to grow the euro, short positions can return immediately to the rebound from a maximum of 1.1222.

Indicator signals:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates the lateral nature of the market, which continues until tomorrow.

Bollinger bands

In case of euro growth, the upper limit of the indicator in the area of 1.1220 will act as resistance.

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