To open long positions for EURUSD, it is required:
We can consider new purchases of the euro after the support level of 1.2345 has been reduced and updated, with the main goal of a breakthrough and consolidation above the resistance of 1.2378, which opens up a realistic prospect of reaching new monthly highs near 1.2405 and 1.2446, where I recommend locking in profits. In case of a decline below the support of 1.2345 in the afternoon, buying the euro can be immediately done on a rebound from 1.2307.
To open short positions for EURUSD, it is required:
The formation of a false breakout and a return to the level of 1.2378 will be a good signal for opening short positions in euros with the first goal of a return to the support of 1.2345. A consolidation below this area will lead to a significant selling and a test of the lower border of the channel of 1.2307, where I recommend locking in profits. If the euro rises above 1.2378 in the second half of the day, it is possible to seek short positions after an update of the resistance in the area of 1.2405.
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
