Stay 
Trading Conditions
Products
Tools
To open long positions on EURUSD you need:
Last Friday, despite good data on industrial production in the eurozone, and the projected rise in producer prices in the US, euro buyers failed to reach new weekly highs. A breakthrough and consolidation above a resistance of 1.1279 is required in order to continue growth, which will push the euro higher in the area of 1.1311 and 1.1338, where I recommend taking profits. Under the scenario of pulling down EUR/USD, against the background of the absence of important fundamental statistics, long positions can be seen after a false breakdown in the support area of 1.1242, or a rebound from a larger low of 1.1214.
To open short positions on EURUSD you need:
Euro sellers need to form a false breakdown in the resistance area of 1.1279 to break an upward trend, which will be a direct signal for opening short positions. This will lead to a re-decline and test of support at 1.1242. However, only a breakthrough of the above range will provide the necessary pressure on EUR/USD and a return to the lows of 1.1214 and 1.1182, where I recommend taking profits. With the growth scenario above 1.1279, according to the trend, you can sell the euro to rebound from highs of 1.1311 and 1.1338.
Indicator signals:
Moving averages
Trade is conducted just above 30 and 50 moving averages, but the upward momentum gradually loses its strength.
Bollinger bands
If the euro falls, support will be provided by the lower limit of the indicator in the area of 1.1242. The breakthrough of the upper boundary in the area of 1.1285 will allow us to count on a new wave of growth.
Description of indicators
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
