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To open long positions on EURUSD, you need:
Euro buyers retreated after statements by ECB President Mario Draghi that he will not tolerate low inflation. The breakthrough of the support of 1.1216 predictably led to a decline in the euro. At the moment, the bulls took advantage of the new low of 1.1180, which I paid attention to in my morning forecast, and managed to stop the decline of the pair. However, repeated testing of this range may lead to a further fall of EUR/USD. In such a scenario to count on a new long position is better from major support of 1.1139. The task of the bulls for the second half of the day will be to consolidate above the resistance of 1.1216, which will lead to an upward correction to the area of 1.1245, where I recommend taking the profits.
To open short positions on EURUSD, you need:
The task of the euro sellers for the second half of the day will be to keep the pair below the resistance of 1.1216, and the formation of a false breakdown will indicate a return to the market of major players aimed at breaking the support of 1.1180. Below this range, open the lows around 1.1150 and 1.1139, where I recommend taking the profit. In the EUR/USD growth scenario above the resistance of 1.1216, short positions can be returned to the rebound from the daily local maximum of 1.1245.
Indicator signals:
Moving Averages
Trading is conducted below 30 and 50 moving averages, which indicates a preponderance of the market in the direction of sellers.
Bollinger Bands
In the scenario of the euro growth in the second half of the day, the average line of the indicator around 1.1216 will act as a resistance.
Description of indicators
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