EURUSD Important Levels
Euro Fx/U.S. Dollar
The price moves in a range between 1.13000 and 1.15000 levels which forms the borders for a price channel . Breaking above or below these levels will be able to give a trading opportunities.
Signals from indicators:
– MACD line move upward confirming possible upward market movements. The lines are not at the signal level. If these lines continue sliding not far from 0, it will give additional signal confirming the range market
– MACD histogram moves upward support buyers
– RSI line moves at 50 level. The market is not overbought or oversold and it can continue sideway movement
– DMI confirms range market conditions.
Buy setup – break out above the downtrend line and 1.15000 resistance level .
Sell setup – break out below 1.13000 support level and the uptrend line.
For the confirmation of any breakout it’s better to wait for ADX line moving upward to 20 level and higher.
Source: TW DLavrov