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To open long positions on EURUSD, you need:
From a technical point of view, in the absence of important fundamental statistics, nothing has changed. Weak reports on the reduction of industrial production in Italy and France helped the sellers of the euro to defend the level of 1.1053, above which the bulls cannot gain a foothold for the second day in a row. At the moment, the focus remains on the breakdown of the resistance of 1.1053, which will lead to an update of the last week's high at 1.1082 and to the test of the new resistance of 1.1115, where I recommend taking the profit. In the scenario of EUR/USD decline, you can count on support in the area of 1.1020, but it is best to open long positions from there after a false breakdown or buy the pair for a rebound from the minimum of 1.0989.
To open short positions on EURUSD, you need:
Euro sellers activated after the resistance update of 1.1053, and the formation of a false breakdown there was a signal to open short positions. Now, the target of the bears is the support of 1.1020. However, the more important task is to break through and consolidate below this minimum, which will push EUR/USD to the area of large levels of 1.0989 and 1.0955, where I recommend taking the profit. In the scenario of further growth above the resistance of 1.1053, it is best to expect sales to rebound from the high of 1.1082, which kept the pair from further growth last week.
Signals of indicators:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market.
Bollinger Bands
Volatility is low, which does not give signals to enter the market.
Description of indicators
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