To open long positions on EUR / USD pair, you need:
Given that there are no expected significant fundamental statistics to be released today, euro buyers took advantage of this moment and managed to keep the pair from a larger sale. Now the bulls are trying to return to the resistance level of 1.1403, fixing above which will lead to a stronger upward correction in the area of maximum at 1.1432 and 1.1459, where I recommend fixing profits. In the case of another wave of EUR / USD and a decline in the second half of the day, you can look for long positions on a rebound from the support of 1.1370 and 1.1342.
To open short positions on EUR / USD pair, you need:
Sellers need to form a false breakdown in the area of resistance at 1.1403 and keep the euro below this level, which will keep the downward potential in the pair. The purpose of which is for further reduction of EUR / USD in the area of the minimum at 1.1370 and 1.1342, where I recommend fixing profits. In the case of consolidation above the level of 1.1403, a series of stop-orders of sellers may occur, which will lead to an increase in the euro to an area of maximum 1.1432, where I recommend today to sell immediately for a rebound.
More in the video forecast for February 6
Indicator signals:
Moving averages
Trade is conducted below the 30- and 50-medium moving, which indicates the continued pressure on the euro.
Bollinger bands
In case of EUR / USD growth, the upside potential may be limited by the upper limit of the Bollinger Bands indicator in the 1.1418 area.
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