To open long positions for EURUSD, it is required:
Buyers need to stay above the support of 1.1606 in the first half of the day, and it is better to form a false breakout there, which will be a signal to open long positions, the main goal is to go beyond the resistance of 1.1642 with an update of the high of 1.169, where I recommend profit taking. In the event of a decline below the level of 1.1606, the purchase can be counted in the area of 1.1566 or on the rebound from a new low of 1.1522.
To open short positions for EURUSD, it is required:
The trend remains downward. The breakout of support of 1.156 will be a direct signal to the selling of the euro with an exit to the lows of the month in the area of 1.1566. The breakdown of this range opens a direct road to the area of 1.1522 and 1.1482, where I recommend to lock in profit. In case of growth above 1.1642 in the morning, you can sell the euro on a rebound from 1.1689.
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
