EUR / USD
To open long positions on EURUSD, it is required:
While the trade is above 1.1905, the continued growth of the euro in the resistance area 1.1947 can be expected. However, as noted in the morning forecast, everything will depend on data on the labor market. Breakdown and consolidation above 1.1947 will open a good opportunity to update to 1.1999. In the event of a return to the level of 1.1905, it is recommended to postpone buying to a larger support at 1.1827 or 1.1790.
To open short positions on EURUSD, it is required:
Return to the selling of the euro is best after the release of good data on the US labor market and after consolidation below 1.1905, which will lead to a rapid decline of the pair to the support of 1.1870, and its removal to a further downward trend with the update to 1.1827 and 1.1790, where it is recommended to lock in profits. In the case of a larger euro increase in the afternoon, it is recommended to return to selling after updating the resistance at 1.1999, or on a rebound from 1.2054.
GBP/USD
To open long positions on GBPUSD, it is required:
A break and consolidation above 1.2937 would allow the bulls to increase their long position to reach 1.2969, and weak US labor market data will lead to new weekly highs in the area of 1.3014 and 1.3050. In the event of a false breakdown of 1.2937, it is best to expect new buyers of the British pound after upgrading support to 1.2868, or to rebound from 1.2815.
To open short positions on GBPUSD, it is required:
Bears can show activity after good data on the US labor market, and a return to the level of 1.2937 with a decline to 1.2906 will be a good signal to increase short positions with the purpose of updating to 1.2868 and further exit to the weekly low of 1.2815, where it is recommended to lock in profits. In case of a sharp increase in the pound on the data, it is best to return to selling from the new weekly maximum in the area of 1.3014.
Fears indicators
- MA (moving average) 50 days - yellow
- MA (moving average) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
