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To open long positions on EURUSD, you need:
Today is the speech of the Fed Chairman, so the pressure on the euro may return in the morning. Buyers coped with their task yesterday and got above the level of 1.1392, which is now important support. The formation of a false breakout on it in the first half of the day will be a direct signal to open long positions in order to update the highs of 1.1427 and 1.1459, where I recommend taking the profit. In the scenario of the euro decline under the support of 1.1392, it is best to look at the long positions on the rebound from the area of 1.1358, where the lower limit of the upward channel passes, and even better to buy from the low of 1.1321.
To open short positions on EURUSD, you need:
The release of important fundamental data in the morning is not expected. Bears will try to return the pair to the level of 1.1392, which will be the first signal to sell EUR/USD in order to form a downward correction to the support area of 1.1358 and the minimum test of 1.1321, where I recommend taking the profit. In the scenario of further growth of the pair, before the speech of the Fed Chairman, large resistance levels for sale will be seen in the area of highs 1.1427 and 1.1459, where you can open short positions immediately on the rebound.
Indicator signals:
Moving Averages
Trading is conducted above 30 and 50 moving averages, which indicates the formation of a bullish market, but at any time the trend may change.
Bollinger Bands
The volatility is low and a breakthrough of the lower boundary of the indicator around 1.1392 will be a signal to sell the euro.
Description of indicators
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