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To open long positions on EURUSD, you need:
In the first half of the day, euro buyers failed to reach new weekly highs above the level of 1.1279 and remain on the sidelines. In order to maintain the upward trend, a breakthrough and consolidation above the resistance of 1.1280 are required, which will push the euro higher to the highs of 1.1311 and 1.1338, where I recommend taking the profit. In the EUR/USD decline scenario, in the absence of important fundamental statistics, one can look at long positions after a false breakout in the support area of 1.1242 or a rebound from a larger minimum of 1.1214.
To open short positions on EURUSD, you need:
To reverse the upward trend, the euro sellers had to form a false breakout in the resistance area of 1.1279, which they successfully did. Now, the goal of the bears is a larger support level in the area of 1.1242, but only its breakthrough will provide the necessary pressure on EUR/USD and return to the lows of 1.1214 and 1.1182, where I recommend taking the profits. With the growth scenario above 1.1280 in the second half of the day, you can sell the euro to rebound from the highs of 1.1311 and 1.1338.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates market uncertainty.
Bollinger Bands
The breakdown of the lower limit of the indicator in the area of 1.1266 will lead to a larger decline in the euro.
Description of indicators
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