To open long positions on EURUSD, you need:
Buyers failed to hold the pair above the support of 1.1242, the breakdown of which led to the sale of the euro. At the moment, the emphasis is on a minimum of 1.1214, however, there is no active action of bulls. The most optimal scenario will be purchased in the area of large support, which is located in the area of 1.1182. The task of the bulls at the end of the day will be to return to the resistance of 1.1246, where I recommend taking the profit.
To open short positions on EURUSD, you need:
The bears will try to break below the support of 1.1214, but it is not quite right to expect a further major decline in the afternoon. Most likely, a false breakdown in the area of 1.1214, after updating the low of today, will lead to an upward correction to the level of 1.1246, from where new sales of EUR/USD can be considered. The key target of sellers at the end of the day will be a new monthly minimum in the area of 1.1182.
Indicator signals:
Moving Averages
Trading is below 30 and 50 moving averages, indicating a bearish market.
Bollinger Bands
In the case of an upward correction, the average border of the indicator, which is currently in the area of 1.1246, will be a good level for opening short positions.
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
