To open long positions on EURUSD, you need:
Even a sharp increase in industrial output in Germany did not allow buyers of the euro to break above the resistance of 1.1459, which remains under their sight. In my morning review, I paid attention to the support in the area of 1.1394 and 1.1364, where after a small correction, buyers returned to the market in the hope of breaking the resistance of 1.1430, which was not possible to do in the first half of the day. At the moment, the bulls will try to regain this area, which will lead to the continued growth of EUR/USD in the area of the highs of 1.1459 and 1.1487, and it is likely to test the resistance of 1.1514, where I recommend taking the profits. In the scenario of a decline in the euro in the second half of the day, the same areas of 1.1364 and 1.1338 will provide support. You can open long positions immediately on a rebound from the lows of 1.1311 and 1.1239.
To open short positions on EURUSD, you need:
There are not many people willing to open short positions on the euro, but sellers continue to form the upper border of the side correction channel in the area of 1.1459-1.1487, from where traders recorded profits on long positions in the first half of the day. At the moment, sellers again need to protect this range, and only the formation of a false breakdown there will be a signal to open short positions, which will lead to a downward movement to the area of the lows of 1.1394 and 1.1364, where the lower border of the above channel already passes. If the euro continues to grow in the North American session above the resistance of 1.1487, it is best to return to short positions only after updating the local levels around 1.1539 and 1.1569.
Signals of indicators:
Moving averages
Trading is conducted above the 30 and 50 moving averages, which indicates the continued growth of the euro.
Bollinger Bands
A break of the upper border of the indicator in the area of 1.1487 will lead to a new growth wave. In the case of a downward correction, purchases can only be returned to a rebound from the lower border of 1.1311.
Description of indicators
Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9Bollinger Bands (Bollinger Bands). Period 20