To open long positions on EURUSD, you need:

In the first half of the day, due to the lack of important fundamental statistics, the market remained in a narrow side channel, and the technical picture has not changed. Only the exit and consolidation above the resistance of 1.1105 will strengthen the demand for the euro and will lead to an update of a larger maximum of 1.1130, as well as to the resistance test of 1.1159, where I recommend taking profit after the publication of the Fed protocols. If traders do not find new hints of the committee to further reduce the rate, it is possible to reduce the EUR/USD scenario. In this case, in the second half of the day, it is best to return to long positions on the rebound from the minimum of 1.1068, or after the update of new monthly levels in the area of 1.1028.

To open short positions on EURUSD, you need:

Bears made a false breakdown in the resistance area of 1.1105 in the morning, and while trading is below this range, the probability of a decline in EUR/USD will be quite high. The main goal of the sellers will be the support levels of 1.1068 and 1.1028, where I recommend fixing the profit. However, after the publication of the minutes of the July meeting of the Fed, the situation can completely go under the control of buyers of the euro. With a breakout scenario above the level of 1.1105, it is best to open short positions on a rebound from the highs of 1.1130 and 1.1159.

Indicator signals:

Moving Averages

Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market.

Bollinger Bands

Volatility decreases, which does not give signals to enter the market.

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