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To open long positions for EURUSD, it is required:
Friday's data on the US economy led to another fall in the European currency. Today, market volatility can be extremely low, especially in the afternoon due to the Veterans Day holiday, which is celebrated in the United States today. In the first half of the day, you can take a closer look at euro purchases after the formation of a false breakdown in the support area of 1.3101 with confirmation of the divergence that can be formed on the MACD indicator. In case of a breakthrough of 1.1301, it is best to open long positions to rebound from the new monthly low of 1.1251. The main task of the bulls will be to return and consolidate above the resistance of 1.1332, which will allow you to count on the test of a larger level of 1.3157, where I recommend to lock in the profit.
To open short positions for EURUSD, it is required:
Sellers will try to push the support level of 1.1301 today, which will lead to a sharper selling of the EUR/USD to the new lows of 1.1251 and 1.1215, where I recommend taking profits. However, the volume of major players may not be enough to form a large downward wave. If the euro rises in the first half of the day, short positions can be returned after an unsuccessful fixing above the resistance of 1.1332 or to rebound from a high of 1.1357.
From today's fundamental data, we need to pay attention to the report on the volume of industrial production in Italy.
Indicator signals:
Moving averages
Trading is below the 30-day and 50-day average, indicating a continued decline in the euro. The 30-day average today will act as a resistance.
Bollinger Bands
Today, the volatility of the Bollinger Bands indicator will gradually decrease, which will not allow to determine clear signals on entering the market.
Indicator description
Moving Average (average sliding) 50 days - yellow
Moving Average (average sliding) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
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