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To open long positions on EURUSD, you need:
Euro buyers are expected to return to the market after updating the support level of 1.122, which I paid attention to in my morning forecast. At the moment, the main task of the bulls will be to break and consolidate above the resistance of 1.1150, which was formed in the first half of the day. Only then can we expect a larger upward correction with the test of the upper limit, perhaps a new side channel 1.1177, where I recommend fixing the profits. With a repeated decline of the euro in the area of 1.1122, it is best to return to long positions on the rebound from 1.1079.
To open short positions on EURUSD, you need:
Bears coped with the morning task and reached the support of 1.122. At the moment, an unsuccessful attempt to consolidate at the level of 1.1150 will be a new signal to open short positions in order to re-update the minimum of 1.1122 and its breakdown, which will lead EUR/USD to the support area of 1.1079, where I recommend fixing the profit. With the growth of EUR/USD above the resistance of 1.1150, it is possible to open short positions on a rebound from the maximum of 1.1177, which can act as the upper limit of the new side channel.
Indicator signals:
Moving Averages
Trading is below 30 and 50 moving averages, which indicates the bearish nature of the market.
Bollinger Bands
In the case of growth, the upper limit of the Bollinger Bands indicator in the area of 1.1170 will act as resistance from which you can sell the euro for a rebound.
Description of indicators
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