To open long positions on EURUSD you need:
Yesterday's slight slowdown in the growth of the PMI index for the US services sector led to the continuation of the upward correction in the pair, which, most likely, has already grown into a new trend. One talk about the further growth of EUR/USD, without a weak report on the number of people employed in the non-agricultural sector of the United States, is not entirely true. The bulls will continue to strive to break above the resistance level of 1.0993, which will provide them with growth already last week's highs in the area of 1.1022, where I recommend taking profits. However, the protection of the 1.0965 support, on which a lot depends today, will be a more important task in the first half of the day. The formation of a false breakdown on it is a direct signal to euro purchases. If the bulls miss this range, you can return to long positions immediately to the rebound from a low of 1.0935.
To open short positions on EURUSD you need:
All that is required today by euro sellers in the morning is the formation of a false breakdown in the resistance area of 1.0993. However, a more important task will be a breakthrough and consolidation below support at 1.0965. Only this will push EUR/USD to yesterday's low at 1.0935, where I recommend taking profits. For the first half of the day the release of important statistics on the economy of the eurozone is not planned. Therefore, in the scenario of the euro growth above resistance at 1.0993, further along the trend, it is best to consider short positions on a rebound from a high of 1.1022.
Signals of indicators:
Moving averages
Trading is conducted above 30 and 50 moving average, which indicates the likely continuation of the upward correction.
Bollinger bands
In case of EUR/USD decline in the morning, support will be provided by the lower boundary of the indicator in the region of 1.0950. Growth will be limited by the upper limit in the area of 1.0995.
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
