To open long positions for EUR / USD, you need:
It is best to consider long positions in the euro after consolidation above the 1.1668 resistance level, which opens a direct road to the maximum in the area of 1.1698 and 1.1728 where it is recommended to fix profits. If the EUR/USD currency pair falls below the support level 1.1648, long positions can be expected to rebound from 1.1623 or from a larger area around 1.1597.
To open short positions for EUR / USD, you need:
The formation of a false breakout in the resistance area 1.1668 will be a signal to the euro sales to reduce and consolidate below 1.1648 support, which will lead to a larger sale to the weekly minimum area of 1.1623 and to the renewal of the large support 1.1597, where it is recommended to fix profit. If the euro rises in the first half of the day above 1.1668, you can sell for a rebound from resistance at 1.1698.
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