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To open long positions on EURUSD you need:
Yesterday's ECB minutes and data on the US labor market once again led to a demand for the US dollar that quickly ended, which made it possible for us to return to the resistance level of 1.1218 by the end of the day. To continue the upward trend, it is necessary to break through the resistance of 1.1248. A consolidation at this level will lead to a new upward wave with the update of the highs in the area of 1.1270 and 1.1294, where I recommend to take profits. In case of the euro declines in the first half of the day, it is best to consider new long positions, provided that a false breakdown is formed in the support area of 1.1218 or to rebound from the lower border of the side channel in the area of 1.1186.
To open short positions on EURUSD you need:
Bears will emerge in the resistance area of 1.1248, and while the trade will be conducted below this range, we can expect that the pressure on the euro will continue. However, the main task for the first half of the day will be to return below the middle of the wide side channel of 1.1218, which will increase the pressure on the euro and lead to a test of its lower boundary in the area of 1.1186, where I recommend taking profits. When the growth scenario is above 1.1248 in the first half of the day, it is best to consider short positions to rebound from resistances of 1.1269 and 1.1294.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving averages, which indicates the lateral nature of the market.
Bollinger bands
Volatility is very low, which does not provide signals for entering the market.
Description of indicators
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