To open long positions on EUR/USD pair, you need:
Euro buyers coped with resistance levels that I paid attention to in the morning review and managed to maintain an uptrend. At the moment, the target is the large area of 1.1322, where I recommend taking profits since it is unlikely to break through this range from the first time. A better scenario for opening long positions in the second half of the day will be the correction of the EUR/USD pair to the support area of 1.1271. If the data on the United States turns out to be worse than economists' forecasts, then growth above the resistance of 1.1322 is not excluded. A breakthrough of which will lead to a maximum in the area of 1.1366.
To open short positions on EUR/USD pair, you need:
Euro sellers will most likely try to make a false breakdown in the area of resistance at 1.1322, provided there is good fundamental data on the American economy. This will lead to a downward correction in the afternoon to the support area 1.1271, where I recommend taking profits. Moreover, from this level, euro buyers will build the lower limit of the ascending channel. When breaking the resistance of 1.1322 and further growth of the EUR/USD pair, it is better to open short positions against the trend only on the rebound from the maximum of 1.1366.
Trading is above 30 and 50 moving averages, which indicates a continuation of the bullish scenario.
If the euro falls, support will be provided by the average indicator border in the 1.1270 area.
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
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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