To open long positions on EURUSD you need:
The downward trend is broken. While trading is conducted above support for 1.1444, the demand for the euro will remain up to the upper limit of the side channel in the area of 1.1483, where I recommend taking profits. The formation of a false breakdown, in the event of a downward correction, at the level of 1.1444, will also be a signal to buy euros. In case of a return below the level of 1.1444 in the first half of the day, it is best to return to long positions on a rebound from 1.1407.
To open short positions on EURUSD you need:
Bears will show themselves only after the renewal of major resistance in the area of 1.1483, from where I recommend to open short positions in the euro. However, the main task will be to return to the support level of 1.1444, which will lead to a larger sale to the level of 1.1407, where I recommend taking profits. If the euro rises above 1.1483, against the background of a "thin market" before the weekend, it is best to open short positions on a rebound from 1.1515.
Trading is above the 30 and 50 day moving averages, indicating continued demand for the euro.
The upward trend is limited by the upper limit of the Bollinger Bands indicator, which is located at 1.1483. In the case of euro, support from the lower border of the indicator in the area of 1.1375.
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