Warunki handlowe
Narzędzia
To open long positions on EURUSD, you need:
If you look at the 5-minute chart, you can clearly see a breakout with a consolidation below the support level of 1.0880, which I have repeatedly drawn attention to in my reviews. Consolidating below this area yesterday in the afternoon caused the euro to fall after disappointing weekly data on the US labor market. Today we expect a more important report from the Non Farm Employment Change, as well as an indicator on the unemployment rate, which is likely to grow. This situation can maintain the demand for the US dollar. As for buying euros, I do not recommend rushing them. The initial task of the bulls will be to regain the resistance of 1.0880, just above which the moving averages pass. Consolidating on this range will allow you to think about continuing the upward correction against the background of profit taking by bears, with a likely test of the high of 1.0955, where I recommend consolidating profits. If the pressure on EUR/USD persists in the first half of the day after the reports on the services sector index of the eurozone, it is best to return to long positions only after updating the low of 1.0790, provided that a false breakout is formed, or immediately on the rebound from the larger support of 1.0718.
To open short positions on EURUSD you need:
Bears yesterday coped with the task and settled below 1.0880, which led to another sell-off of the euro. Today, sellers will actively protect this range, and the next formation of a false breakout on it will be a signal to sell EUR/USD in the hope of further pulling down the pair to the lower boundary of the descending channel and updating the weekly lows with a support test of 1.0790. However, more persistent sellers will expect a test of the 1.0718 level, where I recommend taking profits at the end of the week. In case the pair grows above the resistance of 1.0880 in the first half of the day after the data on the composite PMI index of the eurozone, which, of course, is unlikely, sellers should not be upset. You can safely look at short positions for a rebound from the major resistance of 1.0955, as reports on the state of the US labor market will once again return negative sentiment to the market.
Signals of indicators:
Moving averages
Trade is conducted below 30 and 50 moving averages, which indicates a further decline in the euro in the short term.
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 lower boundary of the indicator in the region of 1.0800 will raise pressure on the euro. Growth will be limited by the upper level of the indicator at 1.0920.
Description of indicators
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