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To open long positions on EUR / USD pair, you need:
Euro rose expectedly after another weak report on the US economy on Friday. At the moment, buyers can retain an upward correction but on condition that they manage to break through and gain a foothold above resistance 1.1323, which will lead to larger growth in the levels of 1.1359 and 1.1394, where I recommend fixing profits. In the case of EUR/USD decline in the first half of the day against the background of the absence of important statistics, you can consider long positions at a false breakdown from the middle of the 1.1282 channel or buy a rebound from the lower border of 1.1235, which will return the pair to the downward trend.
To open short positions on EUR / USD pair, you need:
Bear is required to form a false breakdown in the area of resistance at 1.1323, which will lead to a downward correction to the support area of 1.1282, where I recommend taking profits since the bulls will try to resume their purchases from this level. In the absence of demand in the area of 1.1282, a breakthrough at this range will open a direct path to the minimum around 1.1235. In a scenario of further upward correction, long positions can return today after the testing the maximum of 1.1359 or rebound from 1.1394.
Found in the video review.
Indicator signals:
Moving averages
Trading above the 30-day and 50-day moving averages, which indicates the formation of an upward correction. A moving average test will be an additional signal to buy euros.
Bollinger bands
A break of the upper border of the Bollinger Bands indicator around 1.1330 will be a signal to buy. In the event of a decline in the euro, the average border in the region of 1.1290 and the lower boundary in the area of 1.1250 will act as a support.
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
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