To open long positions for EURUSD, it is required:
As expected, the euro began a correction downwards. Buyers tried to stop the decline in the support area of 1.2327, but a serious rebound did not occur. In this scenario, it is best to calculate long positions in the EUR/USD after updating the level of 1.2305 or to a rebound from 1.2284. Returning back to 1.2349 will return the daily highs around 1.2375.
To open short positions for EURUSD, it is required:
While the trade is below 1.2349, the pressure on the euro will continue. A retest of 1.2327 will lead to another wave of selling with new lows around 1.2305 and 1.2284, where I recommend locking in profits. In case of growth at 1.2349, sales can be returned to a rebound from 1.2375.
Indicator description
- Moving Average (average sliding) 50 days - yellow
- Moving Average (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
