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To open long positions on EUR / USD pair, you need:
Released in the first half of the day, statistics in Germany and the eurozone did not change the market situation, despite the decline in a number of indicators. Buyers still need breakdown and consolidation above the resistance of 1.1367, which will lead to a larger upward correction already in the area of maximum 1.1394 and 1.1432, where I recommend taking profits. In the event of a EUR/USD decline, long positions can be opened on the condition that a false breakdown is formed in the support area of 1.1324 or on a rebound from a minimum of 1.1279.
To open short positions on EURUSD you need:
Sellers will count on the formation of a false breakdown in the area of resistance at 1.1367 but you can also see sales, in case the pair fails to get above the middle of the channel in the area of 1.1345. This will lead to a downward correction in the support area of 1.1324, where the bears will count on its breakthrough today and a sale to the area of 1.1279 minimum, where I recommend taking profits. With the option of a further upward correction and a break of 1.1367, the euro can be sold for a rebound from the maximum of 1.1394.
More in the video forecast for February 22
Indicator signals:
Moving averages
Trade remains of 30- and 50-moving averages, which indicates the lateral nature of the market.
Bollinger bands
Bollinger Bands indicator is very low, which doesn't signal on market entry.
Description of indicators
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
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