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04.09.201814:43 Forex Analysis & Reviews: Trading plan for the US session on September 4 EUR / USD

Long-term review

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

The buyers continue to give way to the market. For long positions in the afternoon, I recommend paying attention after updating the support level of 1.1535. The main goal will be to return and consolidate above the resistance level of 1.1587, which will lead to the demolition of a number of stop orders and a stronger strengthening of the European currency in the area of 1.1633, where I recommend fixing the profits. In the absence of growth from the level of 1.1535, long positions can be returned to a rebound from 1.1493.

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

While the trade is below 1.1587, the pressure on the euro will continue, and the main goal of the sellers will remain support in the area of 1.1535, where I recommend fixing the profits. In the case of EUR / USD growth in the second half of the day, you can return to new sales after an unsuccessful attempt to consolidate to 1.1587 or to rebound from 1.1633.

Exchange Rates 04.09.2018 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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