To open long positions on EURUSD, you need:
Euro buyers failed to stay above the important support level of 1.1330 and missed it after the speech of the President of the European Central Bank Mario Draghi. At the moment, it is best to expect a return to the market of buyers after updating the support level of 1.1290, where you can open long positions immediately on the rebound. Weak inflation data in the United States can once again lead to a rise in EUR/USD in the second half of the day. Therefore, the breakout of the resistance of 1.1341 will be a good signal for opening long positions in the calculation of updating the highs in the area of 1.1366 and 1.1392, where I recommend taking the profit.
To open short positions on EURUSD, you need:
The bears coped with the task and returned to the support level of 1.1330, but this did not lead to the desired sale of the euro, as all attention is now focused on inflation data in the US. The main goal is the support of 1.1290, the repeated test of which will necessarily lead to its breakthrough and the descent of EUR/USD to the area of the minimum 1.1253, where I recommend taking the profit. In the case of growth in the second half of the day above the resistance of 1.1341, it is best to sell the euro on the rebound from the new monthly high at 1.1366 and 1.1392.
Trading is conducted in the area of 30 and 50 moving averages, which indicates the uncertainty of the market before the release of an important report.
Volatility fell sharply before the US inflation report, which does not give signals to enter the market.
Description of indicators
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