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To open long positions on EURUSD, you need:
Against the background of good data on the growth of confidence in eurozone companies and improving sentiment in the economy, the European currency managed to break above the resistance of 1.0925 paired with the US dollar, from which the bulls easily reached the maximum of 1.0950, which I drew attention to in my morning forecast. In the second half of the day, all the focus will be on this level, and in the case of fixing above this range, it is possible to update the maximum in the area of 1.0975, where I recommend fixing the profit. In the scenario of a downward correction, which may occur against the background of closing a number of long positions in the euro after good reports on US GDP and orders for durable goods, it is best to return to purchases only after forming a false breakdown in the support area of 1.0925. A more active presence of buyers in the market will certainly be noted in the area of 1.0895.
To open short positions on EURUSD, you need:
Sellers are still standing on the sidelines and watching the upward trend of the European currency. I was sure that the bears would make an attempt to reverse the current trend in the area of 1.0925, but as we can see on the chart, there were no prerequisites for this, as a result, the focus shifted to the maximum of 1.0950, which is now being traded. Sales for a rebound from the level of 1.0950 were not supported by major players, and now, only the formation of a false breakdown at this level, together with good statistics on the growth of the US economy, can lead to a downward correction of EUR/USD. The first target of the bears will be at least 1.0925. Fixing under this range will quickly push the euro into the support area of 1.0895, where I recommend taking the profits. In the scenario of the pair's growth above the resistance of 1.0950, it is best to return to short positions on the rebound from the highs of 1.0975 and 1.1002.
Signals of indicators:
Moving averages
Trading is above the 30 and 50 moving averages, which indicates that the euro will continue to grow in the short term.
Bollinger Bands
In the scenario of a decline in the euro, the support will be provided by the average border in the area of 1.0910.
Description of indicators
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