To open long positions on EURUSD you need:
Regular data for the euro area did not allow euro buyers to continue the upward trend, and an unsuccessful break above 1.1338 led to a decrease in EUR / USD. Inflation in Germany fully coincided with the forecasts of economists, which also influenced the mood of buyers. At the current moment, bulls are required to return to the level of 1.1303, which may lead to a repeated wave of growth of the euro in the region of the maximum of the day, to the level of 1.1338, where I recommend fixing the profits. In the event of a further decline in the euro, you can count on purchases to rebound from the major support of 1.1278 and 1.1251.
To open short positions on EURUSD you need:
The bears have worked well for a sell signal, which I paid attention to in my morning review. At the moment, their main task is to break through and consolidate below the support level of 1.1303, which will lead to a larger decrease in EUR / USD to the area of 1.1278 and 1.1251 minimum, where I recommend fixing the profits. Good statistics on the US economy can help the downward correction in the pair. In the case of growth in the afternoon, the short positions can all still return to the rebound from the resistance of 1.1338.
Indicator signals:
Moving Averages
The price moves below the 30-day and 50-moving averages, which indicates the end of the bullish trend.
Bollinger bands
The break of the lower border of the Bollinger Bands indicator in the area of 1.1303 is a signal to sell the euro.
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
