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To open long positions on EURUSD you need:
Yesterday's minutes of the European Central Bank, in which traders did not find anything new, did not lead to market changes. so all participants again switched to trade relations between the US and China, which have recently deteriorated, thereby supporting the US dollar. reports on the services sector and manufacturing sector of the eurozone countries, which could further pull down the euro below the support of 1.1056, as activity will remain rather weak. Only the formation of a false breakout on it in the first half of the day will be a signal to buy the euro, but the more important goal of the bulls will be a break of resistance at 1.1088, since only this will return an upward trend and lead to updating highs in the areas of 1.1109 and 1.1131, where I recommend profit taking. In the scenario of a EUR/USD decline to the level of 1.1056 in the morning, purchases can again be seen only at the rebound from the low of 1.1028, or even lower from the support of 1.0994.
To open short positions on EURUSD you need:
Sellers once again achieved the formation of a false breakout level of 1.1088, which led to a return to the area of the lower boundary of the side channel at 1.1056, where euro buyers were actively returning to the market. As long as the trade is conducted below the range of 1.1088, we can expect a further decline in the euro to a support of 1.1056, especially in the case of weak data on activity in the manufacturing sector of Germany and the eurozone. The main goal of sellers will be consolidation below this level, which will push the pair further to the lows of 1.1028 and 1.0994, where I recommend profit taking. It will be possible to talk about the formation of a new downward trend only after the breakout of the resistance of 1.1088. If demand for the euro returns today in the morning, and this happens only if the eurozone indicators are better than economists' forecasts, it is best to return to short positions to rebound from a new high of 1.1109, or sell the euro even higher - from the level of 1.1131.
Signals of indicators:
Moving averages
Trade is conducted in the region of 30 and 50 moving average, which indicates the lateral nature of the market.
Bollinger bands
Growth will be limited by the upper level of the indicator, which practically coincides with the upper boundary of the lateral channel at 1.1088. In case of EUR/USD decline, support will be provided by the lower boundary of the indicator in the area of 1.1045.
Description of indicators
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