To open long positions on EUR / USD, you need:
The euro buyers failed to cope with the morning task of returning to the resistance area of 1.1457, which could lead to the formation of a downward correction in the afternoon. It is best to consider long positions after the formation of a false breakdown in the support area of 1.1422 or to rebound from a larger level of 1.1387. The main goal of buyers is a breakthrough and consolidation above the maximum of 1.1457, which will lead EUR / USD to the area of new levels of 1.1490 and 1.1526, where I recommend fixing the profits.
To open short positions on EUR / USD, you need:
The divergence, to which I paid attention in my morning review, worked fine for myself, and as long as trading continues to be below the resistance level of 1.1457, the pressure on the euro will continue. The breakthrough and consolidation below the support level of 1.1422 will lead to a larger sale of EUR / USD with a minimum of 1.1387 and 1.1342, where I recommend fixing the profits. In the case of growth above 1.1457, you can sell the euro to rebound from a maximum of 1.1490.
Indicator signals:
Moving Averages
Trade is gradually returning to the area of 30-day and 50-moving averages, which indicates a possible change in the upward trend.
Bollinger bands
Bollinger Bands indicator volatility has decreased, which does not give signals on market entry.
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
