To open long positions for EUR/ USD, you need: Break and consolidation above 1.1724 level will be a great signal for euro purchases, and while the trade will be carried out above this variety, one can count on the extension of the upward pattern with the renewal of resistance 1.1756 and the exit to the monthly maximum in the location of 1.1787, where I recommend repairing earnings. In case of a decline in the euro in the very first half of the day, support must be offered by the area of 1.1693, and otherwise it is possible to open long positions for a rebound from 1.1658.
To open brief positions for EUR/ USD, you need:
The development of a false breakout and a go back to resistance level 1.1724 will be the first signal to the euro sales in order to reduce to the support location 1.1693, the advancement of which might result in a bigger sale of the European currency with the renewal of the location 1.1658 and 1.1622, where I suggest repairing earnings. In case of euro growth in the very first half of the day, you can count on short positions after the formation of an incorrect breakdown at resistance 1.1756 or on a rebound from 1.1787.
Description of indicators
MA (average sliding) 50 days – yellow
MA (average sliding) 30 days – green
MACD: quick EMA 12, sluggish EMA 26, SMA 9
Bollinger Bands 20
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