EUR / USD pair
To open long positions for EUR / USD pair, you need:
It is recommended to return buying this pair only after the support area has been reduced and updated in the area of 1.1807 - 1.1800 which would happen when there is a false breakdown there, or a rebound from a larger level of 1.1787. In case of growth and consolidation above 1.1832, one can also rely on new long positions in euro testing at 1.1855 then exit to 1.1881 after the decision of ECB on interest rates.
To open short positions for EUR / USD pair, you need:
Sellers will try to keep the euro below 1.1832 in the morning, which may lead to a downward correction to the area of 1.1807 and 1.1787. The formation of a false breakout and return below the level of 1.1832 will be an additional signal for the opening of short positions in the euro. In case of growth above 1.1832, returning to sales is best for a rebound from 1.1855. All conditions are valid until the decision of the ECB.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
It is recommended to purchase the pound after it has declined and the next support area to be updated at 1.3230 since it has failed to succeed to secure the level yesterday. A rebound from this area could lead to the return of the GBP / USD pair and consolidate above the level of 1.3271, which opens a good prospect of growth in the area of a large monthly resistance in the area of 1.3334. In the case of a breakout at the level of 1.3230, it is best to consider the new long positions after the update at 1.3205.
To open short positions for GBP / USD pair, you need:
While the trade is below 1.3271, sellers will try to get to support 1.3230 and update 1.3205, where fixing profits are recommended. In the case that the price returned to the level of 1.3271, it is recommended to sell only after the formation of a false breakdown at this level, or it is best to postpone short positions to the area of 1.3305 and 1.3334.
Fears of indicators
- MA (average sliding) 50 days - yellow
- MA (average sliding) 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 my TS is possible here.
