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To open long positions on EURUSD you need:
Yesterday, buyers missed the next support level of 1.0905, a return to which will be a priority for today. However, much will depend on the release of reports on production activity in the eurozone countries, especially Germany, as well as data on inflation in the eurozone. With weak reports, EUR/USD buyers can only count on the support level of 1.0873 and on the formation of a false breakdown there, however, it is best to open long positions immediately for a rebound from a low of 1.0804. If the reports come out fairly positive, then a break and consolidation above the resistance of 1.0905 will lead to a larger upward correction to the area of highs of 1.0930 and 1.0958, where I recommend taking profits.
To open short positions on EURUSD you need:
Production activity in the eurozone countries will continue to be rather weak amid trade conflicts, so today's reports may allow euro sellers to continue the current downward trend. The formation of a false breakdown and unsuccessful consolidation at 1.0905 in the first half of the day will be a direct signal to open short positions in order to pull down EUR/USD to the lowest area of 1.0873, as well as an update of support at 1.0840, where I recommend taking profits. If the bulls manage to regain the resistance of 1.0905, you can count on short positions from a high of 1.0930, and also sell for a rebound a little higher, in the region of 1.0958.
Signals of indicators:
Moving averages
Trading is below 30 and 50 moving averages, indicating a further decline in the euro
Bollinger bands
In case of EUR/USD decline in the morning, a break of the lower boundary of the indicator in the region of 1.0880 will increase pressure on the euro.
Description of indicators
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