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To open long positions on EURUSD you need:
The absence of important fundamental statistics, as well as the actual news yesterday afternoon did not allow the bulls to get out of the resistance level of 1.1082, near which the main trade continues. Oddly enough, but at the moment, buyers of the euro still need the same breakthrough and consolidation above the resistance of 1.1082. Only this will maintain an upward trend and lead to an update of the highs in the areas of 1.1109 and 1.1131, where I recommend profit taking. Given that only good data on German producer prices can help in this, the focus in the first half of the day will be placed on them. The Eurozone Financial Stability Report is unlikely to put pressure on the European currency, however, in the EUR/USD decline scenario, purchases can be observed only after a false breakout is formed in the support area of 1.1056, but you can buy immediately for a rebound from a low of 1.1028, a little above which is the lower boundary of the current rising channel.
To open short positions on EURUSD you need:
Sellers once again achieved the formation of a false breakout level of 1.1082, which I paid attention to all day yesterday. As long as trade is below this range, we can expect a further decline in the euro, especially if data on producer prices disappoint traders and economists. The main goal of sellers will be to return and consolidate below the support of 1.1056, which will push the pair further to the lows of 1.1028 and 1.0994, where I recommend profit taking. However, it will be possible to talk about the formation of a new downward trend only under the condition of a breakout of support at 1.1028, where the lower boundary of the current upward correction passes. If demand for the euro returns today in the morning, it is best to return to short positions to rebound from a new high of 1.1109, or sell the euro even higher - from the level of 1.1155.
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.
Bollinger bands
Volatility has sharply dropped, which does not provide signals for entering the market.
Description of indicators
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