To open long positions on EUR / USD, you need:
New serious data is not available, and traders took a pause before important reports from ADP, as well as on the number of people employed outside the agricultural sector. The situation compared with the morning forecast has not changed. Buyers of the European currency can only rely on the formation of a false breakdown in the support area of 1.1313, which will lead to an upward correction in the area of 1.1356 and 1.1391, where I recommend fixing the profits. A signal to buy EUR / USD will also be a breakthrough and consolidation above the resistance of 1.1356. In the case of a further decline, long positions are best returned to the rebound from a minimum of 1.1272.
To open short positions on EUR / USD, you need:
The first test support of 1.1309 can lead to the formation of a small euro rebound up by 15-20 points. However, on the second decline to this level, most likely, a breakdown will be formed with an output of at least 1.1272, where I recommend fixing the profits. In the case of an upward correction in the second half of the day to the area of 1.1356, one can also see short positions in this range, provided that a false breakdown is formed. In a different scenario, you can sell EUR / USD immediately to rebound from a maximum of 1.1391.
Trade is conducted in the area of 30-day and 50-day moving averages, which indicates market uncertainty.
Bollinger Bands indicator volatility decreased. There are no market entry signals.
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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