To open long positions on EUR / USD pair, you need:
Buyers returned to the market after updating the support level of 1.1449, which I paid attention to in my morning review. At the moment, the main task is to break through and consolidate above the resistance of 1.1490, which will lead to a test of the maximum at 1.1531, where I recommend taking profits. In the case of a second euro decline in the afternoon to the support area of 1.1449, it is best to return to long positions only after updating the larger levels of 1.1428 and 1.1407.
To open short positions on EUR / USD pair, you need:
The bears will continue to put pressure on the euro, and the main task to break through to the support remains at 1.1449, which was not possible in the first half of the day. Only the breakdown of 1.1449 will lead to a larger downward correction in the area of 1.1428 and 1.1407, where the lower limit of the downward channel passes. In the case of EUR / USD growth in the second half of the day, you can look at short positions on the false breakdown of the level of 1.1490 and in the absence of a rapid decline from the above range, you can sell for a rebound from the maximum of 1.1531.
Trade is conducted below the 30- and 50-moving averages, which indicates that the downward trend in the market continues.
The volatility of the Bollinger Bands indicator has dropped, which does not give signals to enter the market.
More in the video forecast for January 14
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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