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09.08.201810:42 Forex Analysis & Reviews: Trading plan for the American session August 8 EUR / USD

Long-term review

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

The buyers try to keep the pair above the support level of 1.1585. However, its repeated test can lead to a new wave of sales of euro. In this case, to return to long positions is best to rebound from the support level of 1.1556. In the event of a false breakdown at 1.1585, we can expect a return of demand for the euro and a renewal of the morning resistance around 1.1623, where I recommend fixing the profits.

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

The sellers excellently worked the morning resistance level of 1.1630, which I paid attention to in my review, which led to a quick sell-out to the area of 1.1585. A repeat test of this support will be another signal to the euro sales in order to update a larger level of 1.1556, where I recommend fixing the profits. If the euro rises in the second half of the day, you can sell again for a rebound from 1.1623.

Exchange Rates 09.08.2018 analysis

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Miroslaw Bawulski,
Analytical expert
InstaForex Group © 2007-2021
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