To open long positions for EUR / USD pair, you need:
Buyers failed to do anything in the first half of the day to break the downward trend in the European currency, even despite good data as the producer price index in the eurozone increased. At the moment, the first task is to return to the resistance level of 1.1528, from which we can expect a larger upward correction to the resistance area of 1.1556, where taking profits are recommended. In the event of a further euro decline along the trend, long positions can be returned on a false breakdown from support 1.1495 or to rebound from a new local minimum in the area of 1.1448.
To open short positions for EUR / USD pair, you need:
The breakthrough of several levels of support practically allowed the euro sellers to reach the level of 1.1495, which remains their key goal today in the afternoon. The formation of a false breakdown in the area of 1.1528 will be a good signal for further sales of the euro, and a repeated test of the day minimum will lead to a decrease in the area of 1.1495 and 1.1448, where fixing profits are recommended. In case of growth above the resistance level of 1.1528 in the second half of the day, it is possible to consider new euro sales to rebound from a maximum of 1.1556.
The 30-day moving average and 50-day average are directed down, which indicates a continued decline of the euro in the short term.
The volatility of the Bollinger Bands is at a good level, which indicates the presence of large players in the market and a further decline in the euro.
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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