To open long positions on EUR / USD, you need:
As I noted yesterday, the growth potential of the euro is gradually coming to an end, and today, in order to maintain the upward movement, the bulls need a break of the resistance level of 1.1465, which will open a direct path to the maximum of December last year in the area of 1.1497 and will lead to an update of the area of 1.1525, where I recommend fixing the profits. With the euro decline scenario in the first half of the day, the formation of a false breakdown in the support area of 1.1435 will also be a signal to buy, otherwise opening long positions in EUR / USD is best for a rebound from 1.1407.
To open short positions on EUR / USD, you need:
Yesterday's weak data on the eurozone economy have limited the growth of the euro, and today all attention will be tied to the protocols of the Federal Reserve System, which is likely to lead to the strengthening of the US dollar. A breakout and consolidation below the support level of 1.1435, or the formation of a false breakdown in the resistance area of 1.1465, will be a signal to open short positions in order to further downward correction to the area of the larger support area of 1.1407 and 1.1378, where I recommend fixing the profits. In the case of continued growth in the first half of the day above the resistance of 1.1465, it is best to open short positions to rebound from the maximum of 1.1497.
Indicator signals:
Moving Averages
Trade has moved to the area of 30-day and 50-day moving averages, which indicates the end of the upward trend in the euro.
Bollinger bands
Growth is limited by the upper line of the Bollinger Bands indicator, which is located in the 1.1470 area. The downward trend will also be contained by the lower boundary of the indicator in the area of 1.1430.
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
