To open long positions on EUR / USD pair, you need:
Buyers kept the morning support level, which is now seen in the area of 1.1244. However, it is necessary to break through the resistance of 1.1262 in order to continue the upward trend in the euro. This will lead to the renewal of the highs in the area of 1.1282 and 1.1301, where I recommend taking profits. Good fundamental data on the US economy can put pressure on the pair, hence, when you return in the afternoon to the level of 1.1244 to long positions, it is best to look at the rebound from a minimum of 1.1223.
To open short positions on EUR / USD pair, you need:
The bears could not get through the support level of 1.1247 from the first time, which has shifted slightly and currently in the area of 1.1244. A breakthrough will lead to profit taking in long positions and a decrease in EUR/USD in the area of minimum at 1.1223 and 1.1206, where I recommend taking profits. If the upward correction continues, short positions can return to the false breakdown from the upper border of the side channel at 1.1262 or to the rebound from the large maximum 1.1282.
Indicator signals:
Moving averages
Trade is conducted in the region of 30 and 50 moving averages, which indicates the lateral nature of the market.
Bollinger bands
The volatility of the Bollinger Bands indicator is very 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
The material has been provided by InstaForex Company - www.instaforex.com
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