To open long positions on EUR / USD, you need:
Weak data on the euro area led to the return of the European currency in the area of the opening of the day. At the moment, buyers have problems with the resistance level of 1.1446, and only fixing on it will again return the pair to a maximum of 1.1486, where I recommend fixing the profits. In the event of a further decline in the euro, long positions can be considered to rebound from the support of 1.1406.
To open short positions on EUR / USD, you need:
As long as trade is conducted below 1.1446, pressure on the euro will continue, and good fundamental data on the American economy may return sellers to the market, which will lead to a decline and a test of new support of 1.1406. However, the main purpose of the bears will be the area of 1.1369, where I recommend fixing the profits. If the euro rises above 1.1446 in the afternoon, short positions can be opened immediately to rebound from the maximum of 1.1486.
Indicator signals:
Moving Averages
Trade has moved to the area of 30-day and 50-day averages, which indicates the lateral nature of the market.
Bollinger bands
If the euro declines in the second half of the day, it is best to return to purchases from the lower limit of the Bollinger Bands indicator around 1.1415.
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
