To open long positions on EUR / USD, you need:
Buyers yesterday did not manage to reverse the downtrend, but kept trading in the side channel, which leaves hope for the resumption of the upward trend, but much will depend on a number of fundamental statistics, which is expected today in the morning. At the moment, it is best to consider long positions in euro after the support level of 1.1455 is updated with the formation of a false breakdown on it or for a rebound from the larger area of 1.1428 and 1.1407. For a larger continuation of growth requires a breakthrough and consolidation above the resistance of 1.1490, which will lead to a test of a maximum of 1.1531 and 1.1569, where I recommend fixing the profits.
To open short positions on EUR / USD, you need:
The bears will continue to put pressure on the euro, and the main task will be a breakthrough of support at 1.1455, which will lead to a larger downward correction in the area of 1.1428 and 1.1407, where the lower limit of the downward channel passes. In the case of EUR / USD growth in the first half of the day, you can look at short positions on the false breakdown of the level of 1.1490, from which large sellers will return to the market, but this is subject to weak fundamental data for the eurozone. In the absence of a rapid decline from the above range, you can sell for a rebound from a maximum of 1.1531.
Indicator signals:
Moving Averages
Trade has moved to the area of 30-day and 50-day moving averages, which indicates the lateral nature of the market.
Bollinger bands
The volatility of the Bollinger Bands 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
The material has been provided by InstaForex Company - www.instaforex.com