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To open long positions on EURUSD, you need:
Buyers of the euro, given the divergence and weak data on the eurozone, failed to cope yesterday with the resistance of 1.1261, which is now transformed into 1.1271. To continue the growth, a breakdown of this range is necessary, and good data on the volume of retail trade in the eurozone and the producer price index will help in this, which will provide a breakthrough of 1.1271 and an exit to the highs of 1.1294 and 1.1336, where I recommend fixing the profits. With a decrease in EUR/USD, the support will be provided by the area of 1.1234, from which it is best to open long positions if a false breakout is formed. I recommend buying for a rebound from a minimum of 1.1199.
To open short positions on EURUSD, you need:
Sellers of the euro, as yesterday, will rely on weak reports on the eurozone. Therefore, an unsuccessful breakthrough and a return to the level of 1.1271 will be the first signal to open short positions of the euro, the purpose of which will be the support of 1.1234, where I recommend fixing the profit. However, the main weekly task will be to return to a minimum of 1.11199. In the scenario of further growth in the trend above 1.1271, you can look at short positions from the resistance of 1.1294 or a rebound from the maximum of 1.1336.
Indicator signals:
Moving Averages
Trading is conducted above 30 and 50 moving averages, which indicates the bullish nature of the market.
Bollinger Bands
The break of the upper limit of the indicator in the area of 1.1271 will be a signal to buy the euro.
Description of indicators
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