To open long positions on EURUSD, you need:
Already every day, buyers of the euro keep the level of 1.1348 and try to build an upward trend. The situation has not changed compared to the morning forecast. It is best to return to long positions on a false breakout from the level of 1.1348, after updating the low of yesterday, or on a rebound from larger support of 1.1317. The main task of buyers will be the resistance test of 1.1394, where I recommend taking the profit. The break of this range will resume the upward trend and continue the growth of EUR/USD in the area of highs 1.1430 and 1.1459.
To open short positions on EURUSD, you need:
Data on the US economy may make changes in the market. In the case of the revision of the GDP report for the 1st quarter, the position of the US dollar will weaken again. It is better to consider short positions for a rebound from the resistance of 1.1394, but the main task of the bears will be to return to the support of 1.1348, on which the further downward correction depends. Only its breakthrough will lead to a larger decline in EUR/USD in the area of lows 1.1317 and 1.1286, where I recommend taking the profit.
Indicator signals:
Moving Averages
Trading is conducted in the region of 30 and 50 moving averages, which indicates the balance of buyers and sellers in the short term.
Bollinger Bands
The breakthrough of the lower limit of the indicator in the area of 1.1348 will lead to a larger fall of the euro. Going beyond the upper limit of the indicator in the area of 1.1394 will lead to an increase in EUR/USD.
Description of indicators
MA (moving average) 50 days – yellowMA (moving average) 30 days – greenMACD: fast EMA 12, slow EMA 26, SMA 9Bollinger Bands 20