To open long positions on EURUSD, you need:

The data on inflation in the Eurozone that was released in the first half of the day, which declined more than expected by economists, did not significantly affect the European currency. Lack of activity on the part of euro sellers in the second half of the day may lead to further growth of the pair. From a technical point of view, nothing has changed either, since none of the channel borders have been updated. At the moment, the entire focus of the bulls remains on the range of 1.0923, since only the formation of a false breakout there will be a signal to open long positions in the euro. It is important to note that in general, as long as trading is conducted above this range, we can expect a second wave of EUR/USD growth in the area of yesterday's maximum. But the more important task of the bulls is to break through and consolidate above the resistance of 1.0972, which will open a direct path to new levels in the area of 1.1013 and 1.093, where I recommend fixing the profits. If the pressure on the euro gradually returns, and this happens immediately after the breakdown of the support of 1.0923, which yesterday helped buyers many times, then it is best to open long positions after a downward correction to the area of the minimum of 1.0890 or immediately to a rebound from the support of 1.0855 with the aim of increasing by 30- 35 points intraday.

To open short positions on EURUSD, you need:

In the afternoon, the minutes of the April meeting of the Federal Reserve is expected to be published, which may negatively affect the European currency. The main task of the bears is to return and fix the EUR/USD below the level of 1.0923, since only then can we talk about the resumption of pressure, which will push the pair to the lows of 1.0890 and 1.0855, where I recommend fixing the profits. Also, sellers should not forget about the protection of the resistance of 1.0972, but now I recommend opening short positions from there only after the formation of a false breakout, since after the data on the Eurozone consumer sentiment index, the bulls may once again attempt to continue the upward correction. If you grow above the resistance of 1.0972, it is best to abandon short positions before updating the larger maximum of 1.1013 or sell the euro immediately on the rebound from the resistance of 1.1093, in the expectation of correction of 30-40 points within the day.

Signals of indicators:

Moving averages

Trading is conducted above the 30 and 50 daily moving averages, which indicates the bullish nature of the market.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

In case of a decline, support will be provided by the lower border of the indicator around 1.0920 from which you can buy euros immediately on the rebound. Breaking the upper limit of the indicator in the area of 1.0972 will lead to larger growth of the pair.

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