To open long positions on EURUSD you need:
Yesterday's statements from the Federal Reserve regarding further interest rates hikes in the United States led to a sharp drop in the US dollar against the euro. The buyers of the European currency today in the first half of the day can be helped by a report on the German labor market, as well as on the eurozone GDP, which will lead to an update of the next highs around 1.1534 and 1.1569, where I recommend taking profits. Under the scenario of a decrease in EUR/USD after the release of fundamental statistics, you can return to buying on a false breakdown from the level of 1.1471 or open long positions to rebound from 1.1413.
To open short positions on EURUSD you need:
It is best to consider short positions in the euro after the update of the first major resistance level in the area of 1.1534, in the hope of a decrease to the support of 1.1471, where I recommend taking profits. In the absence of sellers in the area of 1.1534, it is best to look at short positions on the rebound from 1.1569. The main task of the bears before the end of the week will be a return below the support of 1.1471, which will lead to a downward correction in the area of a low of 1.1413.
Indicator signals:
Moving averages
Trade is conducted above the 30-day and 50-day moving averages, which indicates the resumption of the upward trend in the euro.
Bollinger bands
In case of continued growth, the upper limit of the Bollinger Bands indicator in the area of 1.1534 will act as a good resistance. It is possible to consider new purchases of euro on decline from the middle of the channel in the area of 1.1465.
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
