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To open long positions on EUR / USD pair, you need:
Fixation in the higher resistance of 1.1341 has allowed euro buyers to continue their upward trend, which was supported by the good data on the balance of foreign trade in the eurozone. In the second half of the day, the demand for the euro will continue while the trade will be conducted above the level of 1.1341, which may lead to the renewal of the highs around 1.1372 and 1.1407, where I recommend taking profits. In case that the price returns to the level of 1.1341, it is best to rely on purchases on a rebound from the large support level of 1.1301 formed last week.
To open short positions on EUR / USD pair, you need:
Bears are not yet visible in the market and for opening short positions in the second half of the day, the more optimal level will be the resistance of 1.1372, provided that a false breakdown is formed on it. You can sell euros for a rebound from a maximum of 1.1407. The main task of the bears will be to return to the level of 1.1341, which will lead to the closure of a number of long positions and a downward trend in EUR/USD with testing of the minimum at 1.1301, where I recommend taking profits.
More in the video forecast for March 18
Indicator signals:
Moving averages
The price remains above the 30- and 50-moving average, which indicates the bullish nature of the market.
Bollinger bands
In the event of a euro decline in the afternoon, support may be provided by the average Bollinger Bands indicator in the area of 1.1335 and the lower limit in the 1.1310 area.
Description of indicators
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
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