EUR/USD
To open a long position on EURUSD it is required:
The situation for buyers did not change in comparison with the morning forecast. As long as the pair stays above 1.1381, we can expect new purchases in order to restore the level of 1.1407, and consolidation at this level will be a good signal to raise long positions in order to sustain growth in the resistance area of 1.1437 and with a release to new monthly highs in the range of 1.1464. If there is a breakdown of 1.1381, then I recommend to hold off the purchase to a level of 1.1349, with a false breakdown or even lower, just to rebound from a support of 1.1324.
To open a short position on EURUSD it is required:
You can sell the euro after failing to consolidate and return to a level of 1.1407 or from a resistance of 1.1437 with a short stop higher, as the breakthrough of this level will lead the pair to an area of 1.1464, where you can sell the euro today immediately for a rebound. Breakdown and consolidation below the level of 1.1381 will be a good signal for an increase in short positions for the euro with the purpose of updating 1.1349 and 1.1324.
GBP/USD
For opening long positions on GBPUSD it is required:
Buyers were able to return the pound to a level of 1.2903 in the morning and tried to keep the trade above this area. If they managed to do this, then in the afternoon the upward movement in the GBP/USD could continue, which will lead to the renewal of a new weekly high of 1.2953, where I recommend recording profit. In the event of a breakdown and a return to a level of 1.2903, I recommend postponing the buying of the pound to a large support level of 1.2859.
To open a short position on GBPUSD it is required:
Sellers may declare themselves after the pound returns to a support of 1.2903, where a major downward trend will lead to an update of the daily low in the level of 1.2859, where I recommend recording profits. The intermediate level of support may be at the area of 1.2880, where the market will declare buyers. In case of a sustained growth in the pound during the second half of the day, I recommend selling of the GBP/USD only towards a rebound from 1.2953.
Indicators
- MA (moving average) 50 days - yellow
- MA (moving average) 30 days - green
- MACD: a fast EMA 12, Slow EMA 26, SMA 9
- Bollinger Bands 20
