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To open long positions on EURUSD you need:
Euro buyers should be careful as the uptrend slows down. It is best to return to long positions after a correction and the formation of a false breakdown in the support area of 1.1303 or to rebound from a low of 1.1278. Good inflation data in Germany and Italy can support the euro, which will lead to the test of resistance of 1.1338, but I do not recommend you to buy the breakdown there, since it is possible to form a divergence on the MACD indicator, which will limit the upward potential. A second test and consolidation above 1.1338 by the second half of the day will be a signal to buy with a target of 1.1368 and 1.1405.
To open short positions on EUR USD it is required:
Bears will count on another unsuccessful attempt to break the resistance of 1.1338, with the formation of divergence on the MACD indicator, which can lead to a downward correction to the area of 1.1303 and 1.1278, where I recommend taking profit. In case of good inflation data in Germany and Italy, the growth of EUR/USD may continue, in this scenario, it is best to return to short positions against the trend by rebounding from a high of 1.1368.
Indicator signals:
Moving averages
As long as trading is above the 30-day and 50-day moving averages, the demand for the euro will continue.
Bollinger Bands
The growth of the euro may be limited by the upper border of the Bollinger Bands indicator in the area of 1.1338, while the breakthrough of the lower border of the indicator in the area of 1.1295 will be a signal to sell the euro.
Description of indicators
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