To open long positions on EURUSD, you need:
Volatility in the pair is quite low after Friday's surge. In the second half of the day, buyers will still count on the formation of a false breakout near the low of 1.1207 with confirmation of the divergence on the MACD indicator. Only in this scenario, I recommend considering long positions in the euro with the main goal of breaking and securing above the resistance of 1.1239, where you can expect to update the maximum of 1.1268 and take profit on long positions. If the bears break below the support of 1.1207, after the data on the US economy, the output of which is scheduled for the second half of the day, then consider new purchases in EUR/USD is best to rebound from the lows of 1.1182 and 1.161.
To open short positions on EURUSD, you need:
Bears will try to break through today below the support of 1.1207, but it is necessary to take into account the probability of a divergence on the MACD indicator, which can limit the downward movement in the afternoon. Only good data on the US economy will allow us to gain a foothold below the low of 1.1207, which will lead the bears to the following goals in the area of 1.1182 and 1.161, where I recommend taking the profits. However, the best scenario for selling the euro will still be a false breakout in the resistance area of 1.1239.
Indicator signals:
Moving Averages
Trading is below 30 and 50 moving averages, which indicates a possible continuation of the bearish market.
Bollinger Bands
Volatility has fallen, and the breakdown of the lower limit of the indicator in the area of 1.1215 could lead to a new wave of decline in the euro.
Description of indicators
MA (moving average) 50 days – yellowMA (moving average) 30 days – greenMACD: fast EMA 12, slow EMA 26, SMA 9Bollinger Bands 20