To open long positions on EURUSD, you need:
In the morning forecast, I paid attention to sales from the resistance of 1.0975, which brought the bears about 50 points, with intraday volatility of 100, which is quite good. This is clearly visible on the 5-minute chart. However, euro buyers took advantage of the statements of the head of the Federal Reserve System about a return to good growth rates of the world economy after the coronavirus pandemic and continued to increase their long positions, which allowed EUR/USD to return back to the resistance of 1.0975 at the beginning of North American trading. A break in this area in the second half of the day will definitely lead to further growth in the area of the maximum of 1.1041, and then to the further level of 1.1140, where I recommend fixing the profits. However, do not forget that the E=euro has been growing for five days in a row without any significant correction, so you need to treat purchases very sensibly. It is best to wait for a downward correction to the support area of 1.0880, just below which the lower border of the ascending channel passes, or buy immediately for a rebound from the minimum of 1.0790.
To open short positions on EURUSD, you need:
Sellers coped with the task of selling from the level of 1.0975, which led to a slight downward movement, but there is no active action from major players yet. Apparently, only another false break in the resistance area of 1.0975 will be a signal to open short positions, which will lead to a decrease in EUR/USD to the area of the day's minimum of 1.0880, and then to an update of the support of 1.0790, where I recommend fixing the profits. Updating this range will also indicate a break in the upward correction. In the scenario of the euro rising above the resistance of 1.0975, it is best to return to short positions on the rebound from the maximum of 1.1041, or even higher, from the larger resistance of 1.1140.
Signals of indicators:
Trading is conducted above the 30 and 50 moving averages, which indicates that the euro will continue to grow in the short term.
If the euro falls in the second half of the day, you can return to purchases immediately on the rebound from the lower border of the indicator in the area of 1.0850.
Description of indicators
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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