To open long positions on EURUSD, you need:
Data on retail sales, which were expected to form pressure on the euro, did not cause movement in the market, as the growth was zero. It is best to return to long positions in the second half of the day after the correction down to the support area of 1.1164, provided that there is a false breakdown, or a rebound from a larger area of 1.1138. The main task of buyers is to break and consolidate above the resistance of 1.1217, which will lead EUR/USD to the maximum area of last week to 1.1260, where I recommend fixing the profit.
To open short positions on EURUSD, you need:
Bears will manifest themselves only after an unsuccessful attempt to consolidate at the level of 1.1217, which will be a signal to open short positions in the euro in order to reduce and consolidate below the support level of 1.1164, the breakdown of which will push EUR/USD to the minimum area of 1.1138, where I recommend fixing the profits. With the growth of the euro above the resistance of 1.1217 in the second half of the day, which may occur after the statements of the representatives of the Fed, it is best to open short positions to rebound from a maximum of 1.1260.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which continues to indicate the lateral nature of the market.
Bollinger Bands
The volatility of the indicator has decreased, which does not give signals on entering 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
