To open long positions for EURUSD, you need:
Today, euro buyers should return to resistance level 1.1776 in the first half of the day. Above this level, a larger upward wave will lead to the renewal of yesterday’s highs of around 1.1821. The main goal for long positions will be to go beyond the level of 1.1821 and update the area of 1.1869, where it is recommended to lock in profits. In case of a decrease in buying the EUR, it is possible to form a false breakout in the area of 1.1730 or to rebound from larger areas of 1.1692 and 1.1657.
To open short positions for EURUSD, you need:
An unsuccessful fastening above the resistance level of 1.1776 with a return to it in the first half of the day will be the first signal for opening short positions in the euro with the main goal of breakdown and consolidation below the support level of 1.1730, which will lead to the formation of a larger downward wave to 1.1692 and 1.1657, where it is recommended to lock in profits. In case of growth above the level of 1.1776, selling the euro is best on the rebound from 1.1821 and 1.1869.
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
The material has been provided by InstaForex Company – www.instaforex.com