EUR/USD
To open long positions for EURUSD, it is required:
A breakthrough of the support level has occurred and now the buyers of the European currency can only rely on the retention of the level of 1.1544, a false breakdown of which could lead to an upward correction and a return of the EUR/USD pair to the area of 1.1574. In the event of a consolidation at 1.1574 in the afternoon, we can also expect the euro to increase towards its resistance at 1.1608, where I recommend locking in profits.
To open short positions for EURUSD, it is required:
While the trade is below 1.1574, you can expect to update the low around 1.1544, where I recommend locking in profits for today. A breakthrough of this range will lead to a test at 1.1513. In the event of a growth at the resistance of 1.1574, I recommend considering short positions only for a rebound from 1.1608.
GBP/USD
To open long positions for GBP/USD, it is required:
Buyers kept the level of 1.3137, but its repeated test will lead to a further drop in the pound. In this case, I recommend to count on buying only after the test and update at 1.3101. In case of growth and consolidation above the level of 1.3169, we can expect a larger upward movement to the area of 1.3204.
To open short positions for GBP/USD, it is required:
Sellers will attempt to break through 1.3137. A steadying below this level will lead to the selling of the pound and its decline towards the area of a larger support at 1.3101, where I recommend locking in the profit. If the pound is increases in the second half of the day, it would be best to consider selling after forming a false breakout at 1.3169 or a rebound from 1.3204.
Indicator description
- Moving Average (average sliding) 50 days - yellow
- Moving Average (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
