To open long positions on EURUSD you need:
Today, buyers of the euro once again need to keep the pair above the support level of 1.1436, which will be the first buy signal in order to break through and consolidate above the resistance of 1.1460. Only after this, it will be possible to count on continued growth with the building of a new ascending channel and with updating the highs in the region of 1.1487 and 1.1514, where I recommend taking profits. In the event of a decline in EUR/USD below the support of 1.1436, it is best to look closely at long positions at a test of a low of 1.1408, or a rebound from 1.1378.
To open short positions on EURUSD you need:
Today, sellers will try to form a false breakdown at the level of 1.1460, just above which the upper limit of the new downward channel passes. This will be the first signal to sell the euro with the main goal of breaking through and consolidating below support for 1.1436, which will lead to a large sale of EUR/USD to a low of 1.1408 and 1.1378, where I recommend taking profits. If the euro rises in the first half of the day above the resistance of 1.1460, you can immediately return to selling to rebound from the high of 1.1487.
Indicator signals:
Moving averages
Trading has moved under the 30-day and 50-day moving averages, and a correction to them will be a good signal for opening short positions.
Bollinger bands
In case of an upward correction, the upper limit of the Bollinger Bands indicator around 1.1475 will be a good level for opening short positions in the euro.
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
