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To open long positions on EURUSD, you need:
In the first half of the day, a report was released on the sentiment of investors in Germany and the eurozone, which supported the euro and limited further downward potential, formed against the backdrop of strained trade relations between the EU and the US. Technically, nothing has changed. You can still count on the support level of 1.0985, from which an upward correction was formed in the first half of the day. In the scenario of a larger EUR/USD decline, purchases can be considered from the new low of 1.0955. The main task of the bulls is to consolidate above the resistance of 1.1034, but this will happen given the weak data on industrial production in the United States. If the bulls manage to get above 1.1034, we can expect an update of the maximum of 1.1068, where I recommend taking the profits.
To open short positions on EURUSD, you need:
Sellers failed to push the support of 1.0985, and now all the emphasis will be placed on the report on industrial production in the US. Good data will help to form a false breakdown in the resistance area of 1.1034, which will lead to an update of the minimum of 1.0985 and exit to a larger area of 1.0955, where I recommend taking the profit. However, we should not forget about tomorrow's meeting of the Federal Reserve System, so expecting a larger drop in EUR/USD will not be quite right. In the scenario of growth of the pair above the resistance of 1.1034 in the second half of the day, it is best to consider new short positions on the rebound from the resistance of 1.1068.
Signals:
Moving Averages
Trading is conducted in the area of 30 and 50 moving averages, which indicates no market uncertainty.
Bollinger Bands
In the case of a downward correction in the second half of the day, the lower limit of the indicator around 1.0995 will act as support.
Description of indicators
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