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To open long positions on EURUSD, you need:
Buyers managed to form a false breakdown in the support area of 1.1163 and continued the growth of the euro, which I drew attention to in my morning review. At the moment, the task for the second half of the day is to consolidate above the resistance of 1.1189, which will keep the upward trend in the area of highs 1.1215 and 1.1243, where I recommend fixing the profit. In the case of a pair decline, after the release of data on production activity in the US, it is best to return to long positions on the rebound from the low of 1.1138, since the level of 1.1163 will probably be broken on the second attempt.
To open short positions on EURUSD, you need:
Weak reports on production activity in the euro area have become a catalyst for opening long positions in the euro after a small downward correction. At the moment, to return to the market of major players, bears need a breakthrough and consolidation below the support of 1.1163, which will lead to an update of the minimum of 1.1138, where I recommend fixing the profits. In the scenario of further growth of the euro, only a good report on the index of production activity in the US will allow counting on sales from the level of 1.1215, otherwise, it is best to open short positions on the rebound from the maximum of 1.1243.
Indicator signals:
Moving Averages
Trading is conducted above 30 and 50 moving averages, which indicates the formation of a correction in the market.
Bollinger Bands
In case of a decline in the euro in the second half of the day, the support will be provided by the lower limit of the indicator around 1.1163.
Description of indicators
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