EUR / USD pair
To open long positions for EUR / USD pair, you need:
In buying the European currency, the plan remains the same compared to the morning forecast. For today, it is recommended to buy the euro only after the update of the support area at 1.1601 with the formation of a false breakdown or in opening long positions immediately on the rebound from 1.1566 with a small stop below. The upward correction on the euro may strengthen after consolidating above the level of 1.1640. However, the growth will be limited to the area of 1.1679, where fixing the profit is recommended today.
To open short positions for EUR / USD pair, you need:
Sellers can expect to update 1.1601 with a further exit to 1.1566 while the trade is below 1.1640. In the case of a return to 1.1640, it is best to short euro when it returned to a rebound of 1.1679 with a 30-day moving average test.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Buyers of the pound returned to the market from the level of 1.3073 and it is recommended to pay attention to in its morning forecast. At the moment, it is possible to rely on the continuation of GBP/USD pair's growth only after consolidating above 1.3108 which will lead to the continuation of the upward correction to the resistance area 1.3136, where fixing the profit is recommended. If the pound is lowered in the second half of the day, this pair can be bought from the level of 1.3073 only if there is a false breakdown in that area. In another situation, purchase the pair only after a rebound from 1.3031.
To open short positions for GBP / USD pair, you need:
Sellers of the pound can return after the formation of a false breakout of the area of 1.3108 and decrease below it with the goal of re-entering support level at 1.3073. A breakdown will lead to an immediate sell-off to the area of 1.3031. In the case of growth above, the pound can be sold after a rebound from 1.3136.
Indicators description
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
To familiarize with the basic concepts and the general rules of my TS is possible here.
