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To open long positions on EURUSD, you need:
From a technical point of view, nothing has changed in the EURUSD pair due to low volatility amid the absence of important fundamental statistics. The euro is not supported by news from the UK, where the Conservative Party is strengthening its position before the general election. At the moment, the task of the bulls is to hold the support of 1.1045, and the formation of a false breakdown there will be a direct signal to buy the euro. The nearest target of the bulls will be the resistance test of 1.1080, where I recommend taking the profit, as it is unlikely to expect growth to 1.1101 without good fundamental data on the eurozone. In the case of EUR/USD decline under the support of 1.1045, it will be too early to talk about the return of sellers to the market, as the bulls will try to resume growth from the larger minimum of 1.1019.
To open short positions on EURUSD, you need:
Only the formation of a false breakdown in the resistance area of 1.1080 will serve as the first signal to open short positions. However, selling the euro immediately on the rebound is best after the test of the maximum of 1.101. Without good news on the eurozone, it will not be quite right to expect a major bullish trend, and given the lack of news at the beginning of the week, the bears can take advantage of this moment and return to the support level of 1.1045. However, a more important task for sellers will be to consolidate below this range, which will push the euro to a minimum of 1.1019, where I recommend fixing the profits. Rising expectations that the Federal Reserve will no longer cut interest rates this year could provide support to the weakening US dollar.
Indicator signals:
Moving Averages
Trading is conducted above 30 and 50 moving averages, which indicates the continuation of the upward correction.
Bollinger Bands
If the euro falls in the second half of the day, the lower border of the indicator around 1.1045 will act as support.
Description of indicators
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