Trading Conditions
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To open long positions on EURUSD, you need:
The situation has not changed compared to the morning forecast. Buyers need a breakthrough and consolidation above the resistance of 1.1284 to continue growth, and weak data on producer prices in the US will push the euro even higher in the area of 1.1311 and 1.1338, where I recommend taking the profits. In the EUR/USD decline scenario on a strong report, you can look at long positions after a false breakout in the area of yesterday's support of 1.1250, as it has already fulfilled its function once, or a rebound from a larger minimum of 1.1214.
To open short positions on EURUSD, you need:
Sellers of the euro can count on a false breakout of the resistance of 1.1284, which will lead to a downward correction in the pair and the test of intermediate support of 1.1250, from which growth continued this morning. However, only a breakthrough of 1.1250 with good data on the growth of producer prices in the US will provide the necessary pressure on EUR/USD and a return to the lows of 1.1214 and 1.1182, where I recommend taking the profits. In the trend growth scenario, the euro can be sold on a rebound from the highs of 1.1311 and 1.1338.
Indicator signals:
Moving Averages
Trading is conducted in the region of 30 and 50 moving averages, which indicates market uncertainty.
Bollinger Bands
In the EUR/USD decline scenario, the support will be provided by the lower limit of the indicator around 1.1245.
Description of indicators
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