To open long positions for EURUSD, it is required:
Buyers will try to stay above the level of 1.1651 in the afternoon, and only a return to it, after updating the next monthly low, will be a good signal to open long positions in the euro. In the event of a further decline in the EUR/USD pair, purchases can be sought in the support area of 1.1602 and 1.1565. The main goal will be to update the middle of the channel in the area of 1.1687.
To open short positions for EURUSD, it is required:
While the trade is below the level of 1.1651, the pressure on the euro will remain, which could lead to another low in the area of 1.1602 and 1.1565, where I recommend profit taking. If the euro rises in the second half of the day, you can return to selling after updating the resistance is renewed at 1.1687 and the rebound is at 1.1725.
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
