Source: Forex Analysis
To open long positions on EURUSD it is required:
Buyers came out on the morning resistance, and now support for the pair is at 1.1810 area. However, much will depend on the statements made by the ECB in the afternoon. Breakout of resistance 1.1851 will lead the euro to new highs in the area of 1.1886 and 1.1923, where it is recommended recording profits. In the case of a decline under the level of 1.1810 in the afternoon, you can return to buying on a false breakout in the area of 1.1770, or on a rebound from 1.1730.
To open short positions on EURUSD it is required:
Failure to rise above the resistance of 1.1851 with a return to this level will be the first signal for the opening of short positions in euros with the main goal of return and consolidation below support 1.1810, which will lead to the formation of a larger downward wave to 1.1770 and 1.1730, where it is recommended recording profits. In the case of growth above the level of 1.1851, consider the new short positions for the euro best from a high of 1.1886 and 1.1923.
Description of indicators
- MA (moving average) 50 days – yellow
- MA (moving average) 30 days – green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
The material has been provided by InstaForex Company – www.instaforex.com