To open long positions on EU / USD pair, you need:
In comparison with the morning forecast, the situation has not changed as the report on inflation in the eurozone completely coincided with the forecasts of economists. It is best to return to long positions after a correction and the formation of a false breakdown in the area of support at 1.1304 or to rebound from the minimum of 1.1278. Only a breakthrough and consolidation above the resistance of 1.1333 will resume the upward movement of the pair in order to update the highs around 1.1368 and 1.1405, where I recommend taking profits.
To open short positions on EUR / USD pair, you need:
Bears will count on another unsuccessful attempt to break through the resistance of 1.1333 and strong data on the American economy may lead to a downward correction in the area of yesterday's support at 1.1303 and 1.1278, where I recommend taking profits. In case of weak data on industrial production in the US, growth in the EUR/USD pair may continue. If this happens, it is best to return to short positions for a rebound from the maximum of 1.1368 and 1.1405.
More in the video forecast for March 15
The price remains above the 30- and 50-moving average but it is located in close proximity, which indicates the side movement in the market.
If the euro declines in the second half of the day, support may be provided in the lower limit of the Bollinger Bands indicator around 1.1293.
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
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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