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To open long positions on EURUSD you need:
As many expect today, the ECB will curtail its asset purchase program, but more importantly, how will rates rise next year. During the speech, I recommend to follow exactly this. A break above 1.1375, a good signal to buy the euro with a high of 1.1399. The main goal will be to update the resistance of 1.1427, where I recommend to take profit. In case of a decrease in the EUR/USD in the first half of the day, you can look at long positions on a false breakout from the support of 1.1353 or a rebound from a larger level of 1.1328.
To open short positions on EURUSD you need:
Bears need to form a false breakout at 1.1375, which can be formed after the release of weak inflation data in Germany and Italy. An unsuccessful consolidation above 1.1375 will be a signal to sell with a perspective to decreasing towards the area of support of 1.1353, on which all of today's movement depends. A breakthrough of this level will lead to selling in the area of 1.1328, where I recommend to take profit. In case of growth above the resistance of 1.1375, it is best to return to short positions on the update of the highs of 1.1399 and 1.1427.
Indicator signals:
Moving averages
Trading has moved above the 30-day and 50-day moving averages, which indicates the formation of a corrective growth of the euro. In case of a decrease, the 30-day and 50-day ones will provide support, from where you can watch long positions on the euro.
Bollinger Bands
The upward correction in the pair will be limited by the upper limit of the Bollinger Bands indicator in the area of 1.1385, the test of which will be a signal to sell. In the case of a decline in the Euro, you can look at long positions on the rebound from the lower border, which is located in the area of 1.1345.
Description of indicators
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