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To open long positions on EURUSD, you need:
Euro buyers are in no hurry to return to the market and are unlikely to do so seriously before the meeting of the European Central Bank, which is scheduled for this Thursday. We see how in the support area of 1.1180, which I paid attention to the morning. There was a slowdown in the downward trend but the appearance of bulls is not even out of the question. At the moment, it is best to consider new long positions after the next "twenty-point" jump down in the support area of 1.1160 or buy the euro immediately on the rebound from the low of 1.138. You can also use good (if any) data on consumer confidence in the eurozone, which will be released in the afternoon, and which can contribute to the return of EUR/USD to the resistance area of 1.1205, where I recommend taking the profit.
To open short positions on EURUSD, you need:
Sellers continued to push the pair down and reached the support level of 1.1180, which I paid attention to in my morning review. Unfortunately, it was not allowed to enter the market on a false breakout from the level of 1.1205. At the moment, further downward movement can be based on good data on the US economy, the output of which is scheduled for the second half of the day. Under this condition, we can expect to update the lows around 1.1160 and 1.138, where I recommend taking profit. In the scenario of an upward correction, the resistance of 1.1205 will be the same acceptable level for opening short positions, but selling the euro immediately on the rebound will be more correct from the maximum of 1.1241.
Indicator signals:
Moving Averages
Trading is below 30 and 50 moving averages, which indicates the predominance of euro sellers in the market.
Bollinger Bands
In case of an upward correction, the upper limit of the indicator in the area of 1.1225 will act as a resistance.
Description of indicators
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