Trading Conditions
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To open long positions on EURUSD, you need:
Buyers of the euro managed to stay above the level of 1.0865 in the first half of the day, which quite expectedly led to growth in the area of the maximum of 1.0895, which is still not possible to break through. Only a real fixation on this range will allow the pair to maintain a bullish momentum that can lead to an update of the highs of 1.0925 and 1.0950, where I recommend taking the profits. This afternoon, the President of the European Central Bank, Christine Lagarde, will give a speech. In her speech, she may ignore the topic of interest rates, which will allow buyers to build up long positions in the euro. If the pressure on EUR/USD returns, then it is best to return to purchases if a false breakdown is formed in the area of 1.0865 or open long positions immediately on a rebound from the minimum of 1.0835.
To open short positions on EURUSD, you need:
The bears coped with the morning task and did not let the pair above the level of 1.0895, forming a divergence on the MACD indicator. A false breakdown of this level led to a decrease in the euro, however, the movement did not find support from major players. Good report on home sales in the primary market in the US and fears of a slowing eurozone economy can put pressure on the euro, which will lead to a break of the support of 1.0865 and larger downward trends in the area of the low of 1.0835, where I recommend taking the profit. In the scenario of growth above 1.0895 in the second half of the day, it is best to return to short positions on the rebound from the maximum of 1.0925.
Signals of indicators:
Moving averages
Trading is above the 30 and 50 moving averages, which indicates that the euro will continue to grow in the short term.
Bollinger Bands
Bulls are trying to break above the upper limit of the indicator at 1.0895. In the scenario of a lower euro, support will be provided by the lower border in the area of 1.0865.
Description of indicators
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