To open long positions on EURUSD, you need:
Yesterday, the buyers coped with the task of consolidating above the resistance of 1.1247, and while trading is conducted over this range, we can expect continued growth in the area of the maximum of 1.1269 with an update of the level of 1.1301, where I recommend fixing the profit. In the scenario of the return of the euro to the support of 1.1247, it is best to look at long positions from last week's low in the area of 1.1227 or open long positions on the rebound from 1.1207.
To open short positions on EURUSD, you need:
The bears need to return to the level of 1.1247 as soon as possible, which will lead to profit taking in long positions and a decrease in EUR/USD to the area of the minimum of 1.1227. The main goal will be the area of 1.1207, where I recommend making profits. In the continuation of the upward correction, you can return to short positions to rebound from a maximum of 1.1269.
Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market.
In the event of a decline in the euro, support will be provided by the lower bound of the Bollinger Bands indicator around 1.1245. Its breakthrough will lead to a strong sale of EUR/USD.
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