To open long positions on EURUSD, you need:
From a technical point of view, in the absence of important fundamental statistics, nothing has changed. In the first half of the day, buyers of the euro managed to protect the level of 1.1020, which keeps the balance in the market and hope for the continuation of the upward trend amid expectations of lower interest rates in the United States. Currently, the emphasis remains on breaking through the level of 1.1053, which will lead to the updating of last week's maximum in the area of 1.1082 and to the test of new resistance of 1.1115, where I recommend taking the profits. In the scenario of EUR/USD decline, you can count on support in the area of 1.1020, however, opening long positions from there is best after a false breakdown, or buy a pair for a rebound from a minimum of 1.0989.
To open short positions on EURUSD, you need:
Sellers of the euro activated after updating the resistance of 1.1053, and the formation of a false breakdown there will be the first signal to open short positions in the expectation of a return and correction to the support of 1.1020. However, the more important task is to break through and consolidate below this minimum, which will push EUR/USD to the area of large levels of 1.0989 and 1.0955, where I recommend taking the profit. In a scenario of further growth above the resistance of 1.1053, it is best to count on sales on a rebound from the maximum of 1.1082, which kept the pair yesterday from further growth last week.
Signals of indicators:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market.
Bollinger Bands
Volatility is low, which does not give signals to enter 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
