EUR / USD pair
To open long positions for EUR / USD pair, you need:
It can be observed how the buyers returned to the market has occurred earlier with the target level around 1.1625. For now, it is advised to pay attention to purchases only after the breakdown and consolidation above 1.1660, which will lead to an already larger upward trend updating the area of 1.1705 and the exit to a maximum level of 1.1759, where fixing the profit is recommended. In the case of a decline in the euro in the afternoon, it is recommended to consider the long positions after an update to 1.1605.
To open short positions for EUR / USD pair, you need:
Sellers rallied at 1.1660 in the first half of the day, although it was not possible to form a larger downward movement. Currently, selling this pair is expected after an unsuccessful attempt to consolidate and return under 1.1660 or already on the rebound from 1.1705. The main purpose is to update the support level of 1.1605.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Buying the pair is considered from the level of 1.3204 with a small stop order below since much will depend on the decision of the Bank of England. A return to the level of 1.3244 will lead to an increase in long positions of the British pound with an exit at levels of 1.3272 and 1.3296. If the Bank of England kept the rate unchanged, traders should pay attention and purchases are not recommended.
To open short positions for GBP / USD pair, you need:
Sellers have worked all levels before the decision of the Bank of England. If the rates increase, there is a possibility for an upward rebound. Alternately, the breakdown of 1.3204 will lead to another sale after an update to the levels of 1.3167 and 1.3130.
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.
