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Forex Analysis & Reviews: EUR/USD: plan for the European session on June 21. Euro growth will be limited by a resistance of 1.1338
time 21.06.2019 09:00 AM
time Relevance up to, 21.06.2019 02:54 PM

To open long positions on EURUSD you need:

Despite the bullish trend, the euro's growth will be limited by the resistance of 1.1338, where I recommend that you lock in the profit. Good data on the eurozone economy can help buyers maintain the trend. Under the decline scenario, the first buy signal will be the formation of a false breakdown in the support area of 1.1287, however, it is best to open long positions to rebound immediately in the area of a 1.1261 low.

To open short positions on EURUSD you need:

Sellers of the European currency will focus on the level of 1.1287, and a consolidation below this range closer to the afternoon can lead to a downward correction to the area of 1.1261 low, where I recommend taking profits. If the bulls find the strength in themselves and try to break through the resistance of 1.1310 in the first half of the day, it is best to consider short positions if there is a false breakdown in this range or to rebound from a high of 1.1338.

Indicator signals:

Moving averages

Trade is conducted above 30 and 50 moving averages, which indicates the formation of a bull market.

Bollinger bands

Breaking the lower boundary of the indicator in the region of 1.1280 may increase pressure on the euro. Growth will be limited to the upper limit in the 1.1310 area.

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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
Miroslaw Bawulski,
Analytical expert of InstaForex
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