To open long positions on EUR / USD pair, you need:
The demand for the euro remains after a good report of growth on the prices of manufacturers in Germany. Another attempt to consolidate above the resistance level of 1.1401 may form a large upward wave in EUR / USD pair in the second half of the day, which will lead to an update of the highs around 1.1426 and 1.1445, where I recommend taking profits. Fed statements can also trigger a number of purchases. In the event of a decline in the euro, we can consider new long positions up to the Fed's decision, from the level of 1.1368 or buy a rebound from 1.1338.
It is best to open short positions on the euro after returning below the resistance level of 1.1401, which has already been tested for strength several times today. Closing a number of long positions in euros will lead to a larger sale with the update of the day minimum around 1.1368, where I recommend taking profits. f the Fed statements will be positive, we can expect EUR / USD to decline towards larger support levels of 1.1338 and 1.1311 in the short term.
Indicator signals:
Moving averages
Trade is conducted above the 30-day and 50-day average, which indicates continued growth of the euro.
Bollinger bands
If the euro declines in the second half of the day, it is best to return to purchases from the lower limit of the Bollinger Bands indicator around 1.1350.
Video forecast for December 19. What to look for in the Fed statements.
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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