To open long positions on EURUSD, you need:

The 5-minute chart clearly shows how the bears did not experience any problems at the level of 1.0957, and easily broke through it from the second time, taking advantage of a weak report on the growth of eurozone inflation, which was even worse than the forecasts of economists. Although the data on the German labor market managed to please traders, euro buyers did not take them seriously. At the moment, the next support level is located in the area of 1.0932, but you can only count on this level seriously if a false breakout is formed there in the second half of the day. However, it is best to postpone purchases until the test of the larger lows of 1.0880 and 1.0790. An important task for euro buyers is also to return to the resistance level of 1.1020, just above which the moving averages pass. Fixing above this range will quickly return the euro to weekly highs. However, it is unlikely to be possible to count on such a quick comeback, given the statistics that await us this week.

To open short positions on EURUSD, you need:

Sellers coped with the task of reducing the pair to the support of 1.1054 and managed to easily break through it, which indicates that there are no buyers at this level. Apparently, the support has shifted slightly lower, to the area of 1.0932, where you can watch a surge in volume and the first profit-taking on short positions. An important task for the bears will be to consolidate below this range, which will only increase pressure on the pair and lead to an update of the lows of 1.0880 and 1.0790. The support test of 1.0880 will be a turning point in the upward trend that has been observed since the 20th of March. In the scenario of EUR/USD growth in the second half of the day after weak reports on the US economy, it is best to consider short positions after updating the resistance of 1.1020 or sell immediately on a rebound from the larger maximum of 1.139.

Signals of indicators:

Moving averages

The 30-day average crossed the 50-day average from top to bottom, which indicates the formation of a bearish trend in the short term.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

In the case of an upward correction in the second half of the day, the average border in the area of 1.1020 and the upper border of the indicator in the area of 1.1065 will act as a resistance.

Description of indicators

• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
• MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
• Bollinger Bands (Bollinger Bands). Period 20