EUR / USD plan for the American session on April 8. The euro has passed an important level of resistance and gaining strength
To open long positions on EUR / USD pair, you need:
The euro managed to overcome the resistance in the area of 1.1248 after a good report on the indicator of investor confidence, which led to the demolition of a number of stop orders of sellers and the formation of a new upward trend with the exit from the side channel. As long as trading continues to be above support at 1.1248, the demand for the euro will continue, which will lead to an update of the maximum near 1.1284 and 1.1324, where I recommend taking profits. Under the scenario of a decline below the level of 1.1248, it is best to open long positions in the euro to rebound from a low of 1.1212.
To open short positions on EUR / USD pair, you need:
The bears did not manage to keep the pair below the resistance of 1.1248 and the main task for the second half of the day will be to return to this level, which may scare away potential euro buyers and push the EUR/USD pair down to the support area of 1.1212, where I recommend taking profits. In a scenario of further growth of the pair, it is best to open short positions to a rebound from the maximum of 1.1284 and 1.1324.
More in the video forecast for April 8
Trade is conducted above the 30- and 50-medium moving, which indicates the resumption of the bull market.
In the case of a decline, support will be provided by the average Bollinger Bands indicator around 1.1235.
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 20The material has been provided by InstaForex Company - www.instaforex.com