To open long positions on EURUSD you need:
At present, the goal of euro buyers is a large resistance level of 1.1187, a breakthrough of which will allow you to count on the continuation of an upward correction with the update of highs of 1.1206 and 1.1237, where I recommend taking profits. In a downward scenario, it is best to open long positions on a false breakdown from a support of 1.1166 or to rebound from a low of 1.1143. Given the lack of important fundamental statistics today, European Parliament elections can support the euro at the end of this week.
To open short positions on EURUSD you need:
False breakdown and a return below a large resistance level of 1.1187 will be a signal to open short positions in the euro, and a return below a support of 1.1166 may lead to a larger drop with a test of a low of 1.1143, where I recommend taking profits. When the growth scenario is above 1.1187, you can sell after updating the resistance of 1.1206 or to rebound from a high of 1.1237.
Indicator signals:
Moving averages
Trade is conducted just above 30 and 50 moving averages, but it's still premature to speak about the formation of a large upward movement.
Bollinger bands
If the euro rises in the first half of the day, the upward trend may be limited by the upper limit of the indicator in the area of 1.1206, while the lower limit in the area of 1.1135 will support the euro while decreasing.
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
