To open long positions on EURUSD, you need:

In the morning forecast, I paid attention to the level of 1.0808, as it is very important in terms of the continuing growth of the euro in the short term. So far, buyers have managed to cope with their task, and in the morning they protected the support of 1.0808, forming a false breakout on it. However, there was no active growth of the euro from this level. While trading is above this range, you can expect an upward correction to the resistance area of 1.0849, the breakout of which will open the way for the bulls to new highs in the area of 1.0895 and 1.0923, where I recommend fixing the profits. If the bears still achieve their goal in the second half of the day and push the euro below the level of 1.0808, it is best to postpone long positions until the support of 1.0772 is updated or buy immediately for a rebound from the area of 1.0728, counting on correction of 20-30 points within the day. However, it is important to pay attention if the breakdown of the area of 1.0772 takes place – this will be a clear indication of the resumption of the bearish trend for medium-term players.

To open short positions on EURUSD, you need:

In the first half of the day, sellers need to return control over the level of 1.0808, fixing below which will be a good signal to open short positions in the expectation of another decline in the area of the lower border of the side channel of 1.0772, which was formed on May 7. A breakdown of this area will quickly collapse the euro to the lows of 1.0728 and 1.0636, where I recommend fixing the profits. If the bulls try to return to the market in the second half of the day, then only an unsuccessful attempt to update the high of last Friday in the area of 1.0849 will be a signal to open short positions. It is best to sell EUR/USD immediately for a rebound after testing the highs of 1.0895 1.0923, counting on correction of 30-35 points within the day.

Signals of indicators:

Moving averages

Trading is conducted in the area of 30 and 50 daily moving averages, which indicates the lateral 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

A break in the upper limit of the indicator around 1.0825 may lead to a larger increase in the euro. Bears will return to the market only after breaking the lower border of the indicator in the area of 1.0805.

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