To open long positions for EUR / USD, you need:
The formation of a false breakout and a return to the 1.1634 level will be the first signal for the opening of long positions in euros, with the main target of return and consolidation above the resistance 1.1659. This opens up good prospects for a larger correction to the 1.1690 area, where it is recommended to fix profits. In case of a decline in EUR/USD in the first half of the day, players can return to purchases after updating the support 1.1604 or on a rebound from the new low at 1.1567.
To open short positions for EUR/USD, you need:
The breakthrough and consolidation below the 1.1634 support will be another signal for euro sales to upgrade the 1.1604 level. In the absence of demand for euros in this range, a series of test in this area will lead the EUR/USD to a further sellout, as well as testing the lows in the 1.1567 and 1.1529 areas, where it is recommended to fix profits. If the euro rises above the 1.1659 in the first half of the day, you can sell for a rebound from 1.1690.
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