To open long positions on EURUSD, you need:
In the first half of the day, there was absolute calm. Only a breakthrough above the resistance of 1.1248 will form a new upward wave with the update of the highs in the area of 1.1270 and 1.1294, where I recommend fixing the profits. In the scenario of a further euro decline in the afternoon, which may occur during the data on the American labor market, it is best to consider new long positions provided a false breakdown is formed in the support area of 1.1218 or to rebound from the lower border of the side channel in the area of 1.1186.
To open short positions on EURUSD, you need:
While trade will be conducted below the range of 1.1248, the pressure on the euro will remain, and good data on the American labor market will lead to an update of the middle of the wide side channel of 1.1218, as well as its lower limit of 1.1186, where I recommend fixing the profits. If the growth scenario is higher than 1.1248 in the second half of the day, it is best to consider short positions on the rebound from the resistance of 1.1269 and 1.1294.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30-day and 50-day moving averages, which indicates the lateral nature of the market.
Bollinger bands
Only a breakthrough of the lower limit of the Bollinger Bands indicator in the area of 1.1218 will increase the pressure on the euro.
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