Stay 
Trading Conditions
Products
Tools
To open long positions on EURUSD you need:
The euro continued to decline against the US dollar after yesterday's short pause. Expectations that the European Central Bank will change its monetary policy this week continue to put pressure on the pair. Today, buyers will rely on the level of 1.1180, but it is unlikely that it will provide significant support. It is best to wait for more local lows in the area of 1.1138 and 1.1117 and open long positions from there immediately to the rebound. The task of the bulls will be a breakthrough and consolidation above the resistance of 1.1205, which can occur after the release of good data on consumer confidence in the eurozone, and the main goal will be a high of 1.1241, where I recommend taking profits.
To open short positions on EURUSD you need:
The media are aggravating the situation around the ECB's rumors about a possible decrease in interest rates at this meeting, while the euro sellers have already made their way below the support of 1.1205-1.1200, which saved the previous week from a decline, and are gradually moving to the area of lows of 1.1180 and 1.1138, where I recommend take profits. The formation of a false breakdown in the first half of the day in the resistance area of 1.1205 will be a good signal to open new short positions. If the bears do not show themselves after an upward correction to this range, you can sell the euro to rebound from the resistance of 1.1244.
Indicator signals:
Moving averages
Trade is conducted below 30 and 50 moving averages, which indicates an advantage on the part of euro sellers.
Bollinger bands
In case of an upward correction, the upper limit of the indicator in the 1.1225 area will act as a large resistance level.
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.
