EUR/USD pair
To open long positions for EUR/USD pair, you need:
It is best to buy the euro after recovery and consolidation above the level of 1.1789. Hereinafter, a larger upward movement is expected in the resistance area 1.1826 where fixing profits are recommended. In case of a decline of the euro in the morning, support may be found at the intermediate level of 1.1756. Although, it is best to open new long positions after updating at 1.1721.
To open short positions for EUR/USD pair, you need:
The formation of a false breakout at the 1.1789 and a return to it will be a good signal for an increase in short positions in the euro. The support area of 1.1756 and consolidation under this level is expected to result in a larger downward trend in order to update the area 1.1721-1.1715, where I recommend fixing profits. If the euro rises in the first half of the day above 1.1789, it is best to return to sales after updating the levels of 1.1826 or 1.1855.
GBP / USD pair
To open long positions for GBP/USD pair, you need:
It is recommended to buy back the British pound only after the consolidation above 1.3422. It may form a larger upward wave with the renewal of intermediate resistance 1.3465 and an exit at 1.3509, where I recommend fixing profit. When the pound dropped in the morning, returning to long positions is best for a rebound at the level of 1.3347.
To open short positions for GBP/USD pair, you need:
The trade is below 1.3422 and a further decline in the pound is expected. Forming a false breakout at 1.3422 will be an additional signal to increase short positions in order to update at 1.3347 and 1.3309. However, In the case of growth above 1.3422 in the morning, it is recommended to sell again after a false breakout at 1.3465 or a rebound from 1.3509.
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
