Stay 
Trading Conditions
Products
Tools
To open long positions for EURUSD, it is required:
Buyers of the euro are gradually fulfilling their goals. Today, the main task for the first half of the day will be to maintain the support level of 1.1541, and the formation of a false breakout on it, as it was yesterday with the support at 1.1483, will be a direct signal to buy the euro with the continuation of growth in the area of new highs of 1.1588 and 1.1636, where I recommend to take profit. In case the EUR/USD declines below the support level of 1.1541, it is best to return long positions to a rebound from 1.1483. It is important to pay attention to the report from the ECB on monetary policy, which may benefit the euro.
To open short positions for EURUSD, it is required:
Sellers today will need to form a false breakout and return to the resistance level of 1.1588, after which the pressure on the euro may increase, which will lead to a breakdown of support at 1.1541 and a sharper selling of the EUR/USD with an exit to yesterday's low of 1.1483, where I recommend taking profit. If traders find positive points in the ECB report, most likely, the euro will continue to grow. In this case, it is possible to open short positions only on a rebound from the high of 1.1636.
Indicator signals:
Moving averages
As long as trade is above the 30-day and 50-day average, demand for the euro will continue. Support, in the event of a decline, will have a 30-day average around 1.1530.
Bollinger Bands
The average border of the Bollinger Bands indicator in the area of 1.1540 will support the euro in case of a decline, and the break of the upper border in the area of 1.1575 will signal the opening of new long positions.
Indicator description
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
