EUR / USD pair
To open long positions for EUR / USD pair, you need:
Buyers achieved the plan for the first half of the day as they pushed the level from 1.1601 and reach the level of 1.1640, where it faced an active resistance from sellers. It secures above the level of 1.1601 that could lead towards the removal of a number of stop orders and further growth of the euro to the area of 1.1679, where fixing the profit is recommended. In case of an unsuccessful attempt to rise above the level of 1.1640, it is best to return in purchasing this pair after updating towards 1.1601.
To open short positions for EUR / USD pair, you need:
The formation of a false breakout and a return to the level of 1.1640 will lead to an active selling of the euro with a possibility of returning to the support level of 1.1601. A consolidation below this level will only allow sellers to count on a further decrease of EUR / USD pair to the support area of 1.1566, where fixing profit is recommended. In case of growth above 1.1640, it is possible to sell the euro after a rebound at the area of 1.1679.
GBP / USD pair
To open long positions for GBP / USD pair, you nee
Buyers climbed to the area of 1.3160. Moving away from this area, the price continues to rise towards the area of 1.3195, where it is recommended to record profits. In case of a decline in the afternoon, purchasing of the pound can be considered starting in the range of 1.3155 - 1.3160.
To open short positions for GBP / USD pair, you need:
It is best to return to the selling of the pound after the renewal of the resistance level at 1.3195, where large sellers can return to the market. In the absence of a peak volume in this range, it is best to postpone short positions to test a more serious resistance at the area of 1.3219.
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.
