To open long positions on EUR / USD pair, you need:
In the first half of the day, the buyers coped with the task of fixing the resistance above 1.1375 and much will depend on what the ECB President Mario Draghi says during the press conference. It is the tone of his statements that will set the further market direction, so it's almost useless to rely on technical analysis in this situation. The breakthrough of resistance 1.1339 will be a signal for further purchases of the euro with an update of the highs in the area of 1.1427 and 1.1464, where I recommend taking profits. In the event of a decline in the euro, support will be provided by the area 1.1328 and 1.1306.
To open short positions on EUR / USD pair, you need:
In the event of a decline in the euro under the support level of 1.1375, the pressure on the pair may increase significantly, and the breakdown of the minimum of 1.1353 will lead to a larger sale with a return to the region of 1.1328 and 1.1306, where I recommend to fix the profit. In the case of EUR/USD growth on the statements of the President of the ECB, you can take a closer look at short positions in the scenario of forming a false breakdown in the region of 1.1427 or in a rebound from the maximum of 1.1464.
What statements can make the president of the ECB? I spoke about this in detail in my video forecast.
Indicator signals:
Moving averages
Trade is conducted practically in the region of the 30- and 50-day average, which indicates the lateral nature of the market before the release of important data.
Bollinger bands
Bollinger Bands indicator volatility has sharply decreased, which does not give signals on the market entry.
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
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