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To open long positions on EUR/USD, you need:
The latest Non-Farm Employment Change report turned out to be better than economists' forecasts, which held back the pair from another sell-off and resulted in a slight strengthening of the euro. However, in general, the situation has not changed, and trading has remained in the side channel. Forming a false breakout in the support area of 1.0824 was a good signal to open long positions, but we did not reach the goal of 1.0882, as a result, the bullish momentum faded. At the moment, all attention will be focused on the 1.0873 resistance and the behavior of buyers at this level. If in the first half of the day it is possible to gain a foothold above this range, a new wave of growth to the highs of 1.0923 and 1.0972 is not excluded, where I recommend taking profits. Today, there is also no important fundamental statistics, which can serve as a reason to increase long positions in the euro. An equally interesting signal to buy the euro is forming a false breakout in the support area of 1.0819. If there is no bullish activity, it is best to postpone long positions in EUR/USD until the update of the larger low of last week in the area of 1.0771.
To open short positions on EUR/USD, you need:
The bears failed to emerge last Friday, and did not even try to return to the market after data on a sharp increase in the US unemployment rate, which was quite expected. In the first half of the day, sellers will most likely make an attempt to return EUR/USD to the 1.0819 level, but I recommend opening short positions from it only after consolidating below this range in the hope of falling to a larger low of 1.0771 last week, where I recommend taking profits. If the bulls continue to push the market up, it is best to return to short positions only after the forming a false breakout in the resistance area of 1.0872, but you can sell EUR/USD immediately on the rebound from a larger high of 1.0923 while expecting a decrease of 30-35 points within the day.
Signals of indicators:
Moving averages
Trading is carried out a little 30 and 50 moving average, but this only speaks of equal opposition between buyers and sellers.
Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differs from the general definition of the classic daily moving averages on the daily chart D1.
Bollinger bands
A break of the upper border of the indicator at 1.0865 may lead to a sharp increase in the euro. A break of the lower border at 1.0819 will lead to a more serious decline in the pair.
Description of indicators
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