To open long positions on EUR/USD pair, you need:

Quite expectedly, nothing significant happened in the first half of the day against the background of the absence of important fundamental statistics. At the same time, traders prepare for an important meeting of the European Central Bank, at which the regulator can change its monetary policy. Buyers still need to form a false breakdown in the support area of 1.1205, and only under this condition when you can open long positions for return and consolidation above the middle of the side channel in the area of 1.1244 and for updating the upper border in the area of 1.1281, where I recommend fixing the profit. If there is no demand for the euro at a minimum of 1.1205, I recommend buying the EUR/USD pair immediately for a rebound only from the new support area of 1.1167.

To open short positions on EUR/USD pair, you need:

For sellers, the technical picture also has not changed. The bears need a breakdown of a large support level of 1.1205-1.1200, which has saved the euro from further decline throughout the past week. The breakthrough of this range will increase the pressure on the pair, which will lead to an update of the new monthly lows in the area of 1.1167 and 1.1138, where I recommend taking profits. Only good news on the eurozone economy can save the euro from falling but one cannot wait for them today. False breakdown in the area of resistance 1.1244 will be an additional signal to open short positions in the EUR/USD pair. Otherwise, you can sell on a rebound from a maximum of 1.1281.

Indicator signals:

Moving averages

Trade is conducted below 30 and 50 moving average, however, it is still very early to talk about the complete surrender of buyers.

Bollinger bands

The downward impulse is limited by the lower boundary of the indicator in the region of 1.1210, however, its breakthrough may lead to an update of monthly lows.

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