To open long positions for EURUSD, you need:
The upward movement continues. It is possible to gain a foothold at the morning level of 1.2375 although initially, the bears tried to win it down. The buyers are moving toward the resistance level of 1.2406. Meanwhile, the yield for a new weekly high in the region will depend on data on the US and Fed's channels. The main target remains to be the area of 1.2446, where it is recommended to lock in profits.
To open short positions for EURUSD, you need:
A return to the support level of 1.2375 can seriously affect the positions of buyers, which will lead to a more powerful sale of the European currency with the update of support at 1.2349 and 1.2327, where it is recommended to lock in profits. However, the main goal of the sellers is to keep the lows around 1.2305 and 1.2284. In case of growth above the level of 1.2406, the euro can be sold on a rebound from 1.2446.
Indicator description
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20
