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To open long positions on EURUSD you need:
Buyers of the European currency lost the level of 1.1025 yesterday, and US President Donald Trump's speech did not make any serious changes to the market, since in general it was more informative in nature about how everything is good in the US. Today, bulls need the same return to the resistance level of 1.1025 as yesterday. The data on inflation in Germany and industrial production in the eurozone will help in this. In the event of good reports, a break of 1.1025 will lead to a larger upward correction with the update of the highs of 1.1054 and 1.1081, where I recommend profit taking. If the pressure on EUR/USD continues to persist, then I recommend that you look at long positions only after updating the low of 1.0995, or buy immediately on the rebound from a support of 1.0965.
To open short positions on EURUSD you need:
The main task of sellers in the first half of the day will be to maintain the resistance of 1.1025. The formation of a false breakout there, which may occur after a weak report on inflation in Germany and the volume of industrial production in the eurozone, will lead to a larger decrease in EUR/USD to the area of lows 1.0995 and 1.0965, where I recommend profit taking. The pressure on the euro will only weaken if the bulls manage to regain the resistance of 1.1025. In this case, with an upward correction, the first active short positions can be observed in the region of the high of 1.1054, however, larger sellers will prefer to return to the market only after the test of the area of 1.1081.
Signals of indicators:
Moving averages
Trading is carried out below 30 and 50 moving averages, which indicates continued pressure on the euro.
Bollinger bands
A breakthrough of the upper boundary of the indicator in the region of 1.1020 will strengthen the demand for the euro. A break of the lower boundary in the area of 1.1005 will lead to the formation of new pressure on the pair.
Description of indicators
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