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To open long positions on EURUSD, you need:
Buyers need to return to the resistance level of 1.1143 today, from which it will be possible to see an upward correction to the maximum area of 1.1170, where I recommend fixing the profits. Given the weak fundamental statistics on the eurozone, which was published during this week, it is best to look for purchases after updating the minimum in the area of 1.1112, subject to the formation of a false breakdown, or to open long positions on the rebound from the new low of 1.1079.
To open short positions on EURUSD, you need:
The release of important fundamental data in the first half of the day for the euro area is not planned, so the entire emphasis will be placed on the report on the growth of the US economy in the 1st quarter of this year. A false breakdown and a return below the resistance level of 1.1143 will be a signal to open short positions in the euro, and the main task for the first half of the day will be a test of a large support level of 1.1112, which will increase the pressure on the pair and will lead to an update of the minimum in the area of 1.1079, where I recommend fixing the profits. Under the scenario of the growth of the euro above 1.1143, it is best to return to short positions in EUR/USD after updating the high of 1.1170 or to rebound from a larger level of 1.1196.
Indicator signals:
Moving Averages
Trading is below 30 and 50 moving averages, which indicates a further decline in EUR/USD in the short term.
Bollinger Bands
In the case of the growth of the euro in the first half of the day, the upward trend may be limited by the upper border of the indicator in the area of 1.1153.
Description of indicators
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