To open long positions on EUR / USD pair, you need:
Good data on the euro area, including GDP and the German consumer price index, helped euro buyers cope with all the tasks that were set for them in the first half of the day. Now, a test with a fixation above 1.1233 resistance is expected. Only after that you can count on the continuation of the upward correction in the area of maximum 1.1262, where I recommend fixing the profit. In the case of a downward EUR / USD correction in the second half of the day, long positions can return on a false breakdown from the intermediate support of 1.1203 or on a rebound from the minimum of 1.1174.
To open short positions on EUR / USD pair, you need:
Bears were absent in the area of resistance at 1.1203 and you can count on their return only after updating the resistance of 1.1233. However, it is best to wait for a false breakdown to open short positions from there, considering what good data came out on the eurozone economy. Otherwise, it is best to sell the EUR/USD on a rebound from a maximum of 1.1262. The main goal of sellers in the afternoon will be to return to the support level of 1.1203.
Trading is conducted above 30 and 50 moving averages, which indicates a continuation of the upward correction.
In the event of a decline in the euro in the second half of the day, support will be provided by the average indicator boundary around 1.1195.
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