FX.co ★ EUR/USD: plan for the US session on June 4. The expected correction for the euro took place

To open long positions on EURUSD, you need:

In the first half of the day, I paid attention to the resistance level of 1.1261 and the formation of divergence on the MACD indicator, which led to a downward correction. At the moment, the support is provided by the level of 1.1230, and the task of buyers will be to hold it in the afternoon, which can return EUR/USD to the resistance area of 1.1261, where I recommend fixing the profit. In the absence of growth at a minimum of 1.1230, I recommend looking at long positions for a rebound from larger support of 1.11199.

To open short positions on EURUSD, you need:

The sellers of the euro reached the first target in the support area of 1.1230, but the main task for the second half of the day is to consolidate under this range, which will push EUR/USD to the minimum area of 1.11199, where I recommend fixing the profits. In a scenario of return of the pair to the maximum of the day, all the same, the resistance is the area of 1.1261, where you can watch a short position, provided the formation of a false breakout. Sell the euro on a rebound, as in the first half of the day, is best from the level of 1.1294.

Indicator signals:

Moving Averages

Trading is above 30 and 50 moving averages, which indicates a possible continuation of the growth of the euro.

Bollinger Bands

The pair tested the lower limit of the indicator around 1.1230, the breakthrough of which may increase the pressure on the euro.

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