To open long positions on EURUSD you need:
The absence of important fundamental statistics and yesterday's statement by European Central Bank President Mario Draghi did not make significant changes in the market, and tomorrow's meeting of the Federal Reserve on the contrary led to a sharp decrease in volatility. Currently, trading is conducted around the level of 1.1095, from which the market can move in either direction. Consolidation above 1.1095 will lead to updating a larger high of 1.1120, however, the main goal of the bulls will be a test of 1.1149, where I recommend profit taking. In case the pair falls on Brexit news, since data on the eurozone will not be published today in the morning, it is best to open long positions after a false breakout has formed in the support area of 1.066, or by a rebound from a low of 1.1026.
To open short positions on EURUSD you need:
Euro sellers will be concentrated in a false breakout in the resistance area of 1.1095, which will be the first signal to open short positions in EUR/USD, the purpose of which will be to support 1.1066. However, only consolidation below this level will allow the bears to more confidently continue their downward correction to a low of 1.1026, where I recommend profit taking. With good Brexit news, bulls may break above the resistance of 1.1095. In this case, returning to short positions is best done by a rebound from the larger highs of 1.1120 and 1.1149.
Signals of indicators:
Moving averages
Trade is conducted in the region of 30 and 50 moving average, which indicates the lateral nature of the market.
Bollinger bands
Volatility is very low, which does not provide signals on entering 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
