To open long positions on EURUSD, you need to:

From a technical perspective, nothing changed in the first half of the day except for the buy signal that was formed from the level of 1.1834. On the 5-minute chart, the decline in the price to the support of 1.1834 and the formation of a false breakout on it allowed the bulls to once again return to the market from this range. A lot will depend on the report on the number of people employed in the US economic sector. We can expect the growth of the euro as long as trading is above 1.1834. Most likely, there will be no directional movement in one direction, since this indicator does not reflect the entire picture of what is happening in the American labor market due to the operation of a number of assistance programs. The continuation of the upward correction can be expected after the weekly fall of the euro only after fixing above the level of 1.1874, which will create an additional point to buy EUR/USD in order to update the maximum of 1.1912, where I recommend fixing the profits. The longer-term target will be 1.1949. If there are no active actions from the buyers in the area of 1.1874 after the data is released, it is best to postpone long positions again until the weekly low of 1.1792 is updated or buy EUR/USD immediately for a rebound from the support of 1.1755 in the expectation of a correction of 20-30 points within the day.

To open short positions on EURUSD, you need to:

Sellers need to rehabilitate themselves and return to the level of 1.1834, which they failed to do in the morning. A consolidation below this range, together with a good report on the state of the US labor market, forms a strong sell signal for EUR/USD with the aim of reducing to the minimum of the week (1.1792) and its breakdown. Such a scenario will indicate the resumption of the bearish trend in the euro and open a direct path to the support of 1.1755, where I recommend fixing the profits. Another important task of the bears is to protect the resistance of 1.1874. However, the formation of a false breakout there will be a signal to open short positions in the euro. I recommend selling for a rebound only after updating the maximum of 1.1912, based on a correction of 20-30 points within the day.

Signals of indicators:

Moving averages

Trading is conducted around 30 and 50 daily moving averages, which usually happens before the release of important fundamental statistics.

Note: The period and prices of moving averages are considered by the author on the H1 hourly chart and differ from the general definition of the classic daily moving averages on the D1 daily chart.

Bollinger Bands

Volatility has dropped, which does not give a signal to enter the market.

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
• Non-profit speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
• Long non-commercial positions represent the total long open position of non-commercial traders.
• Short non-commercial positions represent the total short open position of non-commercial traders.
• Total non-commercial net position is the difference between the short and long positions of non-commercial traders.