To open long positions for EUR / USD, you need:
Break and consolidation above the 1.1693 level will be a good signal for euro purchases, and as the trade will be conducted above this range, traders may consider continuing the upward trend with renewal of resistance 1.1724 and 1.1756, where it is recommended to fix profit. In case of a decline below the 1.1693 level.
To open short positions for EUR / USD, you need:
A return to support 1.1693 may lead to the selling of the European currency with the renewal of a larger area of 1.1658, where it is recommended to fix profit. In case of the euro growth in the first half of the day, traders may consider on short positions after the formation of a false breakdown at the 1.1724 resistance or on a rebound from 1.1756.
Indicators Description:
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company - www.instaforex.com