To open long positions on EURUSD, you need:
Inflation in Germany was quite predictable, so buyers of the euro have not been able to return above the level of 1.1251, which remains the task for the second half of the day. Only a breakthrough of this range will keep the upward momentum and will lead to an update of the highs in the area of 1.1275 and 1.1299, where I recommend fixing the profits. In the case of good reports on the US, the pressure on the euro will remain. In such a scenario, it is best to return to long positions on a false breakdown from a minimum of 1.1219 or a rebound from a higher level of 1.1188.
To open short positions on EURUSD, you need:
The bears did not even have to defend the level of 1.1251, which primarily indicates the absence of real buyers of the euro. The task for the second half of the day is a correction to the intermediate support area of 1.1219, however, the main purpose of the bears today will be to return and consolidate below this level, which will push the EUR/USD pair down to the minimum area of 1.1188, where I recommend fixing the profits. In the scenario of further growth of the euro, it is best to open short positions on the rebound from the maximum of 1.1275 or even higher – around 1.1300.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates the continuation of the lateral nature of the market.
Bollinger Bands
The volatility of the indicator is low, which does not give signals to enter the market.
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 20
