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To open long positions on EURUSD you need:
Yesterday, the euro remained in a narrow sideways channel after growth, which was formed against the background of good reports on service activity and retail sales in the eurozone, however, in order to continue the upward trend, it is necessary to break above the resistance of 1.1248. A consolidation at this level will lead to a new upward wave with the update of highs in the area of 1.1270 and 1.1294, where I recommend to take profits. In case the euro declines in the first half of the day, when the publication of the European Central Bank's monetary policy report is expected, it is best to consider new long positions for a rebound from a support of 1.1218 or from the lower border of the side channel in the area of 1.1186.
To open short positions on EURUSD you need:
Bears have shown themselves in the resistance area of 1.1250, and while trade will be conducted below this range, we can expect continued pressure on the euro. Most likely, the weak ECB report will return the demand for the US dollar, which will lead to an update of the middle of the wide side channel of 1.1218, as well as its lower limit of 1.1186, where I recommend taking profits. When the growth scenario is above 1.1250 in the first half of the day, it is best to consider short positions to rebound from resistances of 1.1269 and 1.1294.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving averages, which indicates the lateral nature of the market.
Bollinger bands
The break of the upper border of the Bollinger Bands indicator in the region of 1.1248 will lead to a new wave of euro growth.
Description of indicators
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