To open long positions on EURUSD, you need:
Buyers managed to hold the pair after updating the lows of yesterday and returned to the market after the divergence, which I drew attention to in my morning review. At the moment, the situation is not very clear. The bulls will strive for the resistance of 1.1236, where I recommend fixing the profit, while the repeated descent to the lows of the month to the area of 1.1195 can draw new sellers, so it is best to count on buying from this level after a false breakdown or already on a rebound from larger supports of 1.167 and 1.138.
To open short positions on EURUSD, you need:
Bears can count on a false breakout in the resistance area of 1.1236, but the main task will be to re-descend to a minimum of 1.1195, the breakthrough of which will increase the pressure on the pair and lead to another local support in the area of 1.167 and 1.138, where I recommend fixing the profit. If sales from the level of 1.1236 will not be observed after it is updated, then it is best to open short positions to a rebound immediately at the maximum of 1.1261.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates market uncertainty with a further direction.
Bollinger Bands
The breakthrough of the lower limit of the indicator in the area of 1.1205 can form a new downward wave in the pair.
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
