To open long positions on EURUSD, you need:
The situation has not changed in the absence of important fundamental statistics for the eurozone. In the afternoon, a number of reports on the US economy are expected, which may lead to the exit of EUR/USD from the channel. The main goal remains the range of 1.1214, the consolidation of which will lead EUR/USD to the area of last week's maximum to 1.1260 and maintain the upward potential with the test levels of 1.1282 and 1.1301, where I recommend fixing the profit. In the event of a further decline in the euro, it is best to return to long positions after correction down from support at 1.1170, provided that a false breakdown is formed, or to rebound from a larger area of 1.1138.
To open short positions on EURUSD, you need:
Bears hold the pair under the resistance of 1.1214. While trading is below this level, the pressure on the euro will remain, which can lead to a decrease and consolidation under the support level of 1.1170, the breakdown of which will push EUR/USD to the minimum area of 1.138 and 1.112, where I recommend fixing the profit. With the growth of the euro above the resistance of 1.1214 in the second half of the day, against the background of good statistics for the US, it is best to open short positions to rebound from a maximum of 1.1260, but the intermediate resistance may be the level of 1.1240.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which continues to indicate the lateral nature of the market.
Bollinger Bands
The volatility of the indicator has decreased, which does not give signals on entering 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
