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To open long positions on EURUSD, you need:
Euro buyers coped with the morning task and managed to regain the resistance level of 1.1025, which now acts as a support. While trading will be conducted above this range, the demand for the euro will remain, which may lead to an update of the highs of 1.1046 and 1.1065, where I recommend taking the profits. However, in the absence of important fundamental statistics in the second half of the day, the problems of the bulls can begin as early as around 1.1046. A more difficult task will be to hold the support of 1.1026, and the formation of a false breakdown in this area will be another signal to open long positions. In the scenario of a decline below the level of 1.1026, it is best to count on buying after updating the lows of 1.0994 and 1.0969.
To open short positions on EURUSD, you need:
Bears retreated from the market after the downward trend last week and missed the level of 1.1025. The main task for the second half of the day will be a return under this range, which will keep EUR/USD in a bearish channel. If the upward correction continues, the first active short positions can be observed in the resistance area of 1.1046, but larger sellers will prefer to return to the market only after the test of the maximum of 1.1065. The absence of important fundamental statistics in the second half of the day can affect the volatility of the pair, which will lead to the main struggle for the level of 1.1026.
Indicator signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates the likely end of the downward trend in the pair.
Bollinger Bands
The downward movement will be limited to the lower level of the indicator around 1.1015.
Description of indicators
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