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To open long positions on EURUSD, you need:
Buyers again failed to cope with the task and failed to reverse the downtrend. At the moment, the entire calculation of the divergence, which is formed on the MACD indicator. It will be possible to observe it after the update of yesterday's minimum, which will be a signal for opening long positions, in confirmation of which a false breakout at the level of 1.1147 will appear. In this scenario, we can expect an upward correction to the resistance area of 1.1177. Fixing at this level will lead to a maximum test of 1.1208, where I recommend fixing the profits. In case of further EUR/USD decline in the trend, it is best to look at long positions after the test of the lows of 1.122 and 1.1079.
To open short positions on EURUSD, you need:
The bears need to return to the support level of 1.1147, which will increase the pressure on the euro and lead to another wave of decline with the update of the lows in the area of 1.122 and 1.1079, where I recommend fixing the profits. In the case of an attempt to grow the euro in the first half of the day, the formation of a false breakout in the resistance area of 1.1177 will also be a signal to sell EUR/USD. In another scenario, it is best to open short positions on a rebound when returning to the highs of 1.1208 and 1.1237.
Indicator signals:
Moving Averages
Trading is conducted below 30 and 50 moving averages, which indicates the preservation of the bearish nature of the market.
Bollinger Bands
In the event of a decline in the euro, support will be provided by the lower limit of the Bollinger Bands indicator around 1.1130, the breakdown of which will lead to a strong sell-off of EUR/USD. The growth will be limited by the upper limit of the indicator at 1.1208.
Description of indicators
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