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To open long positions on EURUSD, you need:
In my morning review, I focused on the data on the index of production activity in the eurozone countries, which led to the decline of the euro in the morning. The report pointed to the continued decline in activity, which once again confirms the fact of the slowdown of the European economy. Today, buyers only have to rely on a false breakdown in the support area of 1.0960, and to open long positions immediately on the rebound is recommended at the low of the month in the area of 1.0927. A more important task of the bulls, for breaking the current short-term downward trend, is to return consolidation above the resistance of 1.0997, which may lead to an upward correction to the maximum area of 1.1034, where I recommend taking the profit.
To open short positions on EURUSD, you need:
Sellers of the euro will have a good report on manufacturing activity in the US, which will keep the downward potential in EUR/USD, and a breakthrough of the support of 1.0960 will only increase the pressure on the pair, which will lead to an update of the minimum around 1.0927, where I recommend taking the profits. If the data on activity in the production sector in the United States will be worse than economists' forecasts, bulls can take advantage of this and return to the resistance of 1.0997, from where I recommend opening short positions provided that a false breakdown is formed. Selling the euro for a rebound is best from a larger resistance of 1.1034.
Signals:
Moving Averages
Trading is below 30 and 50 moving averages, which indicates the continuation of the downward correction.
Bollinger Bands
In the case of an upward correction in the second half of the day, the resistance will be the average border of the indicator in the area of 1.1010.
Description of indicators
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