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To open long positions on EURUSD you need:
The publication of the Federal Reserve report did not shed light on the future outlook for interest rates in the United States, but did not lead to the fall of the US dollar, which I had hoped for. However, the situation has not changed in comparison with yesterday. Today, in the first half of the day, a breakdown and consolidation above the resistance of 1.1355 is required, which will lead to a larger upward correction already in the area of a high of 1.1394 and 1.1432, where I recommend taking profits. In case the EUR/USD declines, long positions can be opened on the condition that a false breakdown is formed in the support area of 1.1319 or on a rebound from a low of 1.1279.
To open short positions on EURUSD you need:
The sellers, as well as yesterday, will count on the formation of a false breakdown in the area of a resistance of 1.1355, which will lead to a downward correction of the pair to the area of support at 1.1319, where I recommend taking profits. In the event of a consolidation below this level, the pressure on EUR/USD may increase significantly, which will return the pair to the region of the lower border of the ascending channel and will lead to an update of a low of 1.1279. Under the scenario of a further upward correction and a break of 1.1355, the euro can be sold for a rebound from a high of 11394.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving averages, which again indicates market uncertainty.
Bollinger bands
In case of growth, the upper limit of the Bollinger Bands indicator around 1.1369 will limit the upward potential of the euro. A break of the lower boundary of the indicator in the area of 1.1325 will lead to a larger decline in the euro.
Description of indicators
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