To open long positions on EURUSD, you need:
Trading continues above the support at 1.1248, and demand for the euro remains but the main goal for the second half of the day will be a breakthrough and consolidation above the resistance of 1.1284, which will lead to an update of the maximum in the area of 1.1324 and 1.1358, where I recommend fixing the profits. In the scenario of EUR/USD decline in the second half of the day, it is best to look at long positions on a false breakdown around 1.1246 or buy immediately on a rebound from a minimum of 1.1212.
To open short positions on EURUSD, you need:
Bears will show themselves only after the formation of a false breakout in the resistance area of 1.1284, which will lead to a resumption of pressure on the euro and a decrease in the support area of 1.1245. However, the main task of sellers will be to break the level of 1.1245 and the minimum test in the area of 1.1212, where I recommend fixing the profit. In the EUR/USD growth scenario above 1.1284 in the afternoon, it is best to consider short positions on the rebound from the maximum of 1.1324.
Indicator signals:
Moving Averages
Trading is conducted above 30 and 50 moving averages, which indicates that the upward correction is maintained.
Bollinger bands
In case of a decrease, the lower border of the Bollinger Bands indicator in the area of 1.1255 will provide support.
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
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