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To open long positions on EURUSD requires:
In the first half of the day the buyers of the Euro kept a pair before the release of important statistics on the us economy. Further movement of the Euro will directly depend on it. While trade will be above the range of 1.1215, you can count on the EUR/USD to the area high of last week to 1.1260, which will keep the upward potential with the test levels 1.1282 and 1.1301 where I recommend to take profit. For the scenario of the decline of the Euro in the second half of the day, after a good inflation report in the US, for long positions it is best to return on the rebound from the low of 1.1170, or after the updates larger support 1.1138, where the bears will take profits.
To open short positions on EURUSD requires:
the Bears need to get back to the level 1.1214, that will be the signal for opening short positions in EUR to reduce to the support 1.1170, where I recommend to take profit. However, the whole emphasis of the sellers will be offset by inflation data in the US which could derail the EUR/USD to the area of the lows of 1.1138 and 1.1112. In a scenario of further rise in the Euro to open short positions it is best to rebound from 1.1260 high, or even higher – in the area of 1.1300.
the Details in this video forecast for may 10,
, moving Averages
Trade is conducted above the 30 and 50 moving averages, indicating a continuation of the uptrend on the Euro.
In the case of reduction, temporary support may have a lower limit of the indicator is close to 1.1214.
the description of the indicators
MA (moving average) 50 days – yellow MA (moving average) 30 days – green MACD: fast EMA 12, slow EMA 26, 9 SMA Bollinger Bands 20 the Material has been provided by InstaForex company - www.instaforex.com
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