To open long positions on EURUSD, it is required:
Forming a false breakdown from monthly lows around 1.2058 and returning to these levels in the morning will be a good signal for opening long positions in euros, in the hope of correction to the area of resistance 1.2102 and for updating the upper boundary of the side channel 1.2145, where it is recommended fixing profits. In the breakdown of 1.2058, the best time consider buying EUR/USD is after the support test of 1.2023 and 1.1987.
To open long positions on EURUSD, it is required:
An impulse and consolidation below support of 1.2058 will lead to a new wave of selling of the European currency with a test of new monthly lows in the areas of 1.2023 and 1.1987, where it is recommended locking in profits. If the euro rises in the morning, a false breakout from 1.2102 will also be a signal for sales. Otherwise, selling is recommended only on a rebound from 1.2145.
Descriptors:
- MA (moving average) 50 days - yellow
- MA (moving average) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
