To open long positions on EURUSD you need:
Yesterday, euro buyers managed to stay above the support level of 1.1293, which is a good signal. Today, a quick return and consolidation above the resistance of 1.1315 is required in the first half of the day, which coincides with the upper limit of the new downward channel, which will be a good signal to open long positions in euros in order to update the highs of 1.1336 and 1.1358, where I recommend to lock in profits. The data on the eurozone economy that will be released today, can support the euro. In case the EUR/USD drops in the first half of the day to the area of 1.1293, I recommend that you open long positions from there only if a false breakdown is formed. Otherwise, buy only on a rebound from 1.1265.
To open short positions on EURUSD you need:
A weak report on sentiment in the eurozone may lead to the formation of a false breakdown in the support area of 1.1315, which will be the first signal to open short positions in order to re-lower and test the level of 1.1293. A break of 1.1293 will lead to a larger sale of EUR/USD to the lows in the area of 1.1265 and 1.1232, where I recommend taking profits. In case the EUR/USD increases above 1.1315, it's best to open short positions to rebound from a high of both 1.1336 and 1.1358.
Trade is conducted in the region of 30 and 50 moving averages, which indicates the lateral nature of the market.
Only a breakthrough of the upper limit of the Bollinger Bands indicator around 1.1312 will lead to a resumption of the uptrend. Breaking the lower boundary of the indicator in the area of 1.1294 will increase the pressure on the pair.
Description of indicators
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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