To open long positions on EURUSD, you need:

The data released in the first half of the day on activity in the service and manufacturing sectors of the Eurozone provided support to the euro, as a result of which the bulls managed to regain the resistance of 1.0979, which I drew attention to in my morning forecast. The 5-minute chart shows how sellers tried to return to the market after testing this area at the beginning of the European session, but this did not lead to a major downward movement. At the moment, it is necessary to monitor the behavior of bulls above the range of 1.0979, since a second correction to this level from the top down will be a signal to open long positions in the expectation of continuing the upward trend to the maximum area of 1.1013, where I recommend fixing the profits. The longer-term goal for the end of the week will be the resistance of 1.093. If the bulls fail to hold the pair above the support of 1.0979 in the second half of the day, as good reports on the US labor market and PMI indices can return demand for the US dollar, then in this scenario, it is best to return to long positions immediately to rebound from the minimum of 1.0941 with the goal of an upward correction of 20-30 points at the end of the day.

To open short positions on EURUSD, you need:

Sellers again have problems and at the moment the most important task is to return EUR/USD under the morning level of 1.0979. Only in this scenario, the pressure on the euro will return, and the bulls will rush to fix the profit, which will lead to a downward movement to the area of the day's minimum and it is likely to update the support of 1.0941, where I recommend fixing the profit. If the demand for the euro persists after the release of the report on the US labor market, and good indicators can further strengthen the risk appetite of investors, then it is best to consider short positions after the resistance test of 1.1013 or sell immediately on a rebound from a large maximum in the area of 1.093. You should also keep in mind the report on the activity index for the non-manufacturing sector of the United States, good indicators of which can be interpreted as a signal to buy the European currency.

Signals of indicators:

Moving averages

Trading is conducted above the 30 and 50 daily moving averages, which indicates the bullish 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

In case of a decline, support will be provided by the lower border of the indicator in the area of 1.0952, from which you can buy euros immediately on the rebound. Breaking the upper limit of the indicator in the area of 1.0990 will lead to larger growth of the pair.

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