To open long positions on EURUSD, you need:

The euro remains under pressure even after a report on German industrial production, which reported growth of 1.1% in November this year after shrinking for two months in a row. Apparently, a good report was offset by a reduction in the positive balance of German foreign trade. From a technical point of view, nothing has changed. Bulls still need to protect the support level of 1.1096, and only the formation of a false breakout on it will be the first signal to open long positions in the pair. In the scenario of a breakout of 1.1096, which I also referred to in my morning forecast, it is best to return to buying the euro on the rebound from the lows of 1.1069 and 1.1041. News on the US labor market is unlikely to have a serious impact on the pair today. Therefore, the entire focus will be shifted to the speeches of representatives of the European Central Bank and the Federal Reserve system. The downward trend will be broken only if there are breakout and consolidation above the resistance of 1.1130, which will lead to an update of the highs of 1.166 and 1.1205.

To open short positions on EURUSD you need:

Sellers continue to control the market, and now their main task for the second half of the day will be a breakthrough and consolidation below the support of 1.1096, which will increase the pressure on the EUR/USD and lead to an update of the lows of 1.1069 and 1.1041, where I recommend fixing the profits. However, before opening new short positions at the breakout of 1.1096, you should make sure that the MACD indicator does not form a divergence. In the scenario of growth of the euro above the resistance of 1.1130, it is best to consider short positions on the rebound from the highs of 1.166 and 1.1205. The formation of a false breakout at 1.1130 will keep the bearish momentum in the market and will be a signal to sell the euro.

Indicator signals:

Moving Averages

Trading continues below the 30 and 50 moving averages, indicating continued pressure.

Bollinger Bands

Sellers have broken through the lower border of the indicator, which indicates that their advantages remain. In the case of an upward correction of the euro, the upper level in the area of 1.1120 will act as a resistance.

Description of indicators

• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
• MACD indicator (Moving Average Convergence / Divergence - Moving Average Convergence / Divergence). Fast EMA Period 12. Slow EMA Period 26. SMA Period 9.
• Bollinger Bands (Bollinger Bands). Period 20.