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To open long positions on EUR / USD, you need:
Market volatility will gradually decrease before the Christmas holidays. For buyers, it is best to look at the breakdown of the level of 1.1402, which can lead to a larger upward correction to the area of maximum 1.1438, where I recommend fixing the profits. The formation of a false breakdown in the 1.1377 area will also retain hope among buyers for the growth of the euro in the first half of the day. Otherwise, it is best to open long positions to rebound from the support of 1.1350.
To open short positions on EUR / USD, you need:
Bears will try to form a false breakdown in the resistance area of 1.1402, which will resume the downward movement in the euro and lead to a breakthrough of a minimum of 1.1377, below which levels of 1.1350 and 1.1324 open, where I recommend fixing the profits. If EUR / USD rises above the resistance level of 1.1402, it's best to take a closer look at short positions on the rebound from 1.1438.
Indicator signals:
Moving Averages
Trade is conducted below the 30-day and 50-day moving averages, which indicates a continued decline in the European currency.
Bollinger bands
The upward trend is limited by the intermediate resistance level in the form of the upper border of the Bollinger Bands indicator, which is located in the area of 1.1418 from which sales can be viewed. In the event of a decline in the euro, support will be provided by the lower limit of the indicator in the 1.1350 area.
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
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