EUR/USD
To open long positions on EURUSD, it is required:
Buyers are gradually returning to the market, and the level of 1.1703, which will lead to an increase in long positions in the euro with the purpose of updating the weekly maximum near 1.1770, will be important today. If the euro drops below the support level of 1.1672 without forming a false breakdown there, it is recommended to hold-off purchases to a larger level of 1.1622, which will be the last hope of bulls before forming a major downward correction in the EUR/ USD pair.
To open short positions on EURUSD, it is required:
Sellers today will count on the formation of a false breakout and return to the level of 1.1703, which will be a clear signal to increase short positions with the first goal of breakdown and consolidation below 1.1672, where a direct path to the important support level 1.1622 opens. Stabilizing below 1.1622 will mean the formation of a major downward correction for the euro next week. If the euro rises in the first half of the day above 1.1703, it is recommended for sales to be postponed to 1.1770.
GBP/USD
To open long positions on GBPUSD, it is required:
It is recommend to buy the pound after consolidating above the level of 1.3092, which opens a direct path to the intermediate resistance of 1.3130, with the main purpose of updating to 1.3054. If the pound drops below the level of 1.3060, without forming a false breakdown there, it's best to go back to the buying on the rebound from the large support of 1.3009.
To open short positions on GBP/USD, it is required:
Today, sellers for will try to form a false breakdown of 1.3092, and a return to this level will be a clear signal to increase short positions with a downside target at 1.3060, and the update of the weekly support level of 1.3009. In the case of growth above 1.3092 in the morning, it is recommended to go back to selling pound in the resistance area of 1.3154, after the formation of a false breakdown there, or immediately at a rebound from 1.3206.
Fears 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
To familiarize with the basic concepts and the general rules of the TS see here.
