FX.co ★ EUR/USD: plan for the American session on July 10. Powell's statements put pressure on the US dollar

To open long positions on EURUSD, you need:

Buyers of the euro managed to stay above the support of 1.1202, and at the very beginning of the speech of the Fed Chairman, they attempted to break the resistance of 1.1233. Consolidation at this level will allow continuing the growth of EUR/USD in the area of highs 1.1268 and 1.1307, where I recommend taking the profit. In the scenario of the return of the euro to the level of 1.1233, it is best to return to long positions after updating the support of 1.1202 or to rebound from the new weekly low in the area of 1.1182.

To open short positions on EURUSD, you need:

Sellers can only hope for a false breakdown of the resistance of 1.1233, since the return to it in the afternoon may scare off buyers of the euro, which will lead to the closure of a number of long positions and a decrease in the pair to the minimum area of 1.1202. The break of this range will return the bearish trend to the market, which will open a direct road to the support of 1.1182 and 1.161, where I recommend taking the profits. In the scenario of further growth of the euro above 1.1233, it is best to open short positions on the rebound from the maximum of 1.1268.

Indicator signals:

Moving Averages

Trading is conducted above 30 and 50 moving averages, which indicates a possible market reversal and the completion of the bearish trend.

Bollinger Bands

In the EUR/USD decline scenario, the downward trend may be limited by the lower limit of the indicator in the area of 1.1200.

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