To open long positions on EUR / USD pair, you need:
Euro buyers coped with the task for the first half of the day, which I described in more detail in my morning forecast. At the moment, after a small correction from the resistance level of 1.1402, there is a possibility of its retest of a breakdown and further upward correction already in the area of maximum 1.1439, where I recommend taking profits. In case of unsuccessful consolidation above 1.1402 when you retest, it is best to consider long positions in euro only for a rebound from support around 1.1364.
To open short positions on EUR / USD pair, you need:
As long as trade is conducted below 1.1402, pressure on the euro will continue, and good fundamental data on the American economy may return euro sellers to the market, which will lead to a decline and a test of morning support at 1.1364. However, the main goal of the bears is still the area of 1.1329, where I recommend taking profits. If the euro rises above 1.1402, you can open short positions immediately to rebound from a maximum of 1.1439.
Indicator signals:
Moving averages
Trade has moved to the area of 30- and 50-day averages, which indicates the lateral nature of the market.
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 1.1345.
Details in the video forecast for December 27
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
The material has been provided by InstaForex Company -
www.instaforex.com