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To open long positions on EURUSD you need:
Weak data on industrial production in the United States supported buyers of the euro last Friday. At the moment, the main task is to break the resistance of 1.1341, which will resume the pair's upward movement in order to update the highs in the area of 1.1372 and 1.1407, where I recommend taking profits. In case of a downward correction in the first half of the day, for example, after a bad report on the balance of foreign trade in the eurozone, it is best to return to long positions from the low of the channel of 1.3101 or to rebound from a low of 1.1278.
To open short positions on EURUSD you need:
Bears will count on another unsuccessful attempt to break through the resistance of 1.1341, and weak data on the balance of foreign trade in the eurozone may lead to a downward correction to the lower boundary of the side channel 1.3101 and 1.1278, where I recommend taking profits. In case of good data, EUR/USD growth may continue; in such a scenario, it is best to return to short positions against the trend to rebound from a high of 1.1372 and 1.1407.
Indicator signals:
Moving averages
As long as trading will be above 30-day and 50-day moving averages, the demand for euros will continue.
Bollinger bands
A break of the upper border of the Bollinger Bands indicator in the area of 1.1341 could lead to another wave of euro growth. In case of a decline, the lower limit in the 1.1307 area will provide good support for the pair.
Description of indicators
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