To open long positions on EUR / USD pair, you need:
The downward correction for the euro, which I paid attention to in my morning forecast, is gradually coming to an end. Buyers have already proven themselves in the support area of 1.1523, but further movement will depend on the ECB protocols. The main task for the second half of the day will be to return and consolidate above the resistance level of 1.1556, which will open a direct road to the area of maximums of 1.1605 and 1.1648, where I recommend taking profits. In the case of reduction scenarios on ECB protocols, long positions can be considered to rebound from support of 1.1495, where the 50-day moving average is also located.
To open short positions on EUR / USD pair, you need:
Only the formation of a false breakdown in the area of resistance 1.1556 will allow us to count on the continuation of the downward correction in the euro. Weak protocols from the European Central Bank may also negatively affect the EUR / USD pair and the breakdown of support for 1.1523 will push the euro even lower to the minima of 1.1495 and 1.1465, where I recommend taking profits. In the case of the breakdown of the level 1.1556 and the new wave of growth, it is best to consider short positions for a rebound from the levels 1.1605 and 1.1648.
Indicator signals:
Moving averages
Trade is conducted above the 30- and 50-day average, which indicates the likely continuation of the growth of the euro after the update of the sliding.
Bollinger bands
The upper limit of the Bollinger Bands indicator around 1.1475 limits the upward potential of the euro. The lower boundary of the indicator in the area of 1.1523 will act as a support and the breakdown of which will lead to a new wave of the euro decline.
More in the video forecast for January 10
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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