To open long positions for EURUSD, it is required:
The most important task for buyers today will be to return and consolidate above the resistance of 1.1593, where you can expect a larger growth in the area of weekly highs, to the resistance area of 1.1634-40, as well as to update the level of 1.1689, where I recommend to lock in the profit. In case of a further decline in the euro, the support will be at 1.1543. In the event of its breakout, new long positions are best considered only after updating 1.1513 and 1.1482.
To open short positions for EURUSD, it is required:
While trading is below 1.1593, the pressure on the euro will remain, which will lead to the test of intermediate support at 1.1543, the breakdown of which will open new weekly lows in the area of 1.1513 and 1.1482, where I recommend profit taking. In case of growth above 1.1593 in the first half of the day, the euro can be sold on a rebound from the weekly highs of 1.1634-40.
Indicator description
- Moving Average (average sliding) 50 days - yellow
- Moving Average (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
