To open long positions for EURUSD, it is required:
In order to resume the growth of the euro, buyers need to consolidate above the resistance level of 1.2295, from where it will be possible to expect a repeated renewal of Wednesday's high with a test of the resistance at 1.2329. A further goal will be to update the level of 1.2358 with an exit at 1.2380, where I recommend locking in the profit. In case of another unsuccessful steadying at 1.2295 in the morning, long positions can be sought on a false breakout in the area of 1.2240, or for a rebound from 1.2195.
To open short positions for EURUSD, it is required:
The next formation of a false breakdown and a return to the level of 1.2295, or consolidation below support at 1.2272, will lead to a new wave of selling the European currency with the main goal of reaching the level of 1.2240, and then to update support at 1.2195, where I recommend locking in profits. If the euro rises above 1.2297 in the first half of the day, I recommend short positions after updating resistance at 1.2329, or on a rebound from 1.2358.
Indicator description
- Moving Average (average sliding) 50 days - yellow
- Moving Average (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
