To open long positions on EUR / USD, you need:
In the first half of the day, buyers managed to keep an important level of support around 1.1348, and the formation of a false breakdown on it, which I paid attention to in my morning forecast, preserves the likelihood of continuing upward correction in euro. The main objective remains the breakthrough of the resistance level of 1.1388, which will lead to a larger upward correction in the region of the maximum of 1.1423 and 1.1451, where I recommend fixing the profits. In the event of a further decline in the euro with the trend, it is best to look at the long positions after a test of support at the low of this year in the area of 1.1312.
To open short positions on EUR / USD, you need:
The sellers showed themselves in the morning and tried to break through the support of 1.1348, but this did not bring any results. The task for the second half of the day is to re-lower to the area of 1.1348, which will lead to a larger EUR / USD sale with a minimum of 1.1312 and 1.1272, where I recommend fixing the profits. In the case of a return scenario above the resistance of 1.1388, against the background of weak statistics in the US, I recommend to consider short positions in euro for a rebound from the upper border of the side channel last week around 1.1423.
Indicator signals:
Moving Averages
Trade is conducted below the 30-day and 50-medium moving, which indicates the bearish nature of the market.
Bollinger bands
The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.
Description of indicators
- MA (moving average) 50 days - yellow
- MA (moving average) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
