EUR/USD
To open long positions for EURUSD, you need:
In the morning, we achieved our targets for buying. The rates were left unchanged and the euro sank. Most likely, trade will continue in the area of 1.1974 ahead of the speech of the ECB President. In case of a breakout above 1.2015, you can count on a sustained growth of the EUR/USD pair in the area of 1.2054 and on the way out to 1.2123. In the event of a sharp decline in the euro, I recommend a return to buying only from large support levels around 1.1827 and 1.1742.
To open short positions for EURUSD, you need:
Selling the euro in the second half of the day would be done best after a drop towards the support level of 1.1930 for the purpose of consolidating below 1.1879. This will lead to the break of a number of stop orders and a larger decline of the European currency that is already in the range of monthly support levels 1.1827 and 1.1790, where I recommend locking in profits for today. In case of a sharp increase in the euro, it is best to refuse selling for today.
GBP/USD
To open long positions for GBPUSD, you need:
Buyers fulfilled the morning target, consolidating above 1.3055 and reached 1.3091. In case of a return to the level of 1.3091 after the speech of the ECB President, you can monitor new long positions in order to update the monthly highs around 1.3140 and 1.3179. In case the pound declines in the afternoon, I recommend buying back to a rebound from 1.3025, with a short target of 15-20 points, or best after updating larger support levels around 1.2986 and 1.2955.
To open short positions for GBPUSD, you need:
To sell the pound, I recommend only doing so after a return and consolidation below the support of 1.3055 with the main goal of the exit at 1.3025 and a breakthrough to 1.2986, where I advise you to lock in the profit. In case of a larger rise in the pound that is above 1.3091 in the afternoon, a return to selling would be best after a false breakdown of 1.3140 or a rebound from 1.3179.
Indicators
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
