EUR/USD
To open long positions for EURUSD, it is required:
With the euro, you need to be very careful. The formation of a false breakdown in the area of 1.1595-1.1601 is the only factor that would lead to a growth and renewal of 1.1640, where large sellers return to the market. If there is no quick rebound from this level, then we can expect an attempt to return to the resistance area of 1.1679. In the event of a downtrend in the euro below 1.1601, the best way to return to buying is not through a rebound from 1.1566.
To open short positions for EURUSD, it is required
Sellers can return after a resistance test at 1.1640 and the 50-day moving average, and the formation at this level of a false breakdown will be an additional signal to open short positions with a return and consolidation below 1.1601. A breakdown of 1.1601 will lead to a decline of the EUR/USD pair in the area of monthly lows towards 1.1566, where I recommend locking in profits for today.
GBP/USD
To open long positions for GBP/USD, it is required:
For buying the pound, it is best to expect after a false breakdown is formed at the bottom of the range 1.3130-1.3125, or after steadying above 1.3160, which will lead to a larger upward correction with a return to 1.3195. It is in such an area that it is best to lock in profits. In the event of a return to a level of 1.3130, long positions on the pound are best postponed until the update of 1.3101.
To open short positions for GBP/USD, it is required:
Sellers will gradually return after the resistance test at 1.3160, and the formation of a false breakdown in that area, which will be a good signal to raise short positions in terms of breakout and a consolidation below 1.3130, that will lead to a number of selling and an update at 1.3101, where I recommend locking in profit for today. In the event of a growth above 1.3160, you can sell the pound for a rebound around 1.3195.
Indicator description
- Moving Average (average sliding) 50 days - yellow
- Moving Average (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
