EUR / USD
To open long positions for EUR / USD, you need:
Everything remains on its original places. The first resistance level has slightly changed, which is located in the area of 1.1930. The consolidation will serve as a signal to increase long positions in the euro, aimed to reach the 1.1974 and renew the highs from September 1. In case that the euro will decline in the morning, it is recommended to buy again after the formation of a false breakout in the support area 1.1879-75.
To open short positions for EUR / USD, you need:
After updating the highs of yesterday, sellers will try to form a false breakdown at level 1.1930, which will lead to a decline of EUR/USD towards the support area of 1.1879. The breakdown of 1.1879 opens a good opportunity to move the pair down in the range of 1.1827. If the euro rises during the first half of the day, it is recommended to go back to selling from the significant resistance level of 1.1974 after the highs of September 1.
GBP / USD
To open long positions for GBPUSD requires:
It is best to rely on the new purchases of the pound after the correction in the support area of 1.3004-1.2994. A false breakout will be formed in that area. The update of the 30-day moving average is a good signal to increase long positions with a repeat exit at 1.3043 along with the update of the monthly high at 1.3091 area. In case that the pound will drop below 1.3004, buying is the best way possible upon a rebound from the support at 1.2955. The consolidation and the break above 1.3043, purchases with a target of 1.3091.
To open short positions for GBPUSD, you need:
It is not necessary to rush selling the pound. Either the formation of a false breakout at 1.3043 with a reversal in this level or a real consolidation after another decline to the 1.3004 support area, will serve as a signal for the opening of short positions in the GBP/USD pair. The main target of reduction is in the region of 1.2955. Otherwise, selling the pound is best after rebound from 1.3091.
Indicators description:
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
