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To open long positions on EURUSD you need:
An attempt to continue the euro's growth was unsuccessful after the release of a number of fundamental data indicating the good condition of the US economy and an increase in retail sales in the United States. Currently, traders will concentrate on inflation data in Italy, which may lead to a breakthrough and consolidation of EUR/USD above the resistance of 1.1079, which will sustain bullish growth and make the pair reach new levels of 1.1108 and 1.1151, where I recommend taking profits. In the scenario of a downward correction of EUR/USD in the morning, it is best to return to long positions on a false breakdown in the region of 1.1050, or on a rebound from a low of 1.1020.
To open short positions on EURUSD you need:
As for the further downward correction, most likely, at the beginning of this week, the pair will be in the channel 1.1050 - 1.1108. Therefore, it is best to open short positions only after a false breakdown in the resistance area of 1.1078 is formed, which acts as the middle of the channel, or immediately sell the euro for a rebound after updating the highs of 1.1108 and 1.1151. The main task of sellers will be to return and consolidate below the support of 1.1050, which will lead to a larger downward correction to the area of 1.1020, where I recommend taking profits.
Signals of indicators:
Moving averages
Trade is conducted in the region of 30 and 50 moving average, which indicates the lateral nature of the market at the beginning of the week.
Bollinger bands
A break of the lower boundary of the indicator in the region of 1.1060 will only increase pressure on the euro, while the upper boundary in the area of 1.1100 will limit the upward potential.
Description of indicators
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