To open long positions on EUR / USD pair, you need:
Weak data on the eurozone's growth of GDP in the 3rd quarter of this year led to a slight downward correction in EUR / USD in the first half of the day. At the moment, it is possible to count on long positions after the formation of a false breakdown in the support area of 1.1258 or on a rebound from a minimum of 1.1226. The main task of the buyers is still a breakthrough and consolidation above the resistance of 1.1300, which will allow to form the lower limit of the new ascending channel and update the highs around 1.1357, where I recommend taking profits.
To open short positions on EUR / USD pair, you need:
The bears managed to keep the pair below the resistance level of 1.1300, which led to a small downward trend in the first half of the day, which has not yet received a continuation. The main objective remains the breakdown of the support level in the area of 1.1258, which will already collapse the EUR/USD pair in the area of a larger level of 1.1226, where I recommend taking profits. If the euro rises in the second half of the day above the resistance of 1.1300, short positions can be returned to rebound from the maximum of 1.1357.
Indicator signals:
Moving averages
Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.
Bollinger bands
Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.
Description of indicators
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
