EUR / USD: Strong support, and positive signals for possible long

EUR/USD couldn't break below significant levels of support, which is why the formation remains, and long positions are more likely in this area.

The failed breakthrough  1.1541 and the subsequent engulfing bar gives a signals of the strength of the euro around these levels.

Passing above 1.17 also suggests that the pair may have lost bearish momentum at low volumes. Now after confirmation of support, the sentiment is changing.

The CCI indicator also gives a signal for long - going above the control level  -140 in that case

DeM passes over 0.3 after divergence between price and indicator, which is also a strong bullish signal

MAB_TD_Sequential counts over the day bar, which is also confirming the probability for an upward movement.

For risky trade, the long is now possible, and for more conservative trade - long after correction to about 1.1760.  SL: 1.1620

The latest speculation on the market that the moods at the ECB are changing to the probability of tightening monetary policy will support the euro. Economic data is also good and can support the euro in the coming days.

Today we expect the eurozone's GDP, and good numbers will confirm the strength of the single currency. Speculations around Italy are dampening, which also supports the EUR.

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