EUR/USD
To open long positions for EURUSD, it is required:
Nothing has changed in the market. It is advised that you buy only after a consolidation above 1.1673-80 or after forming a false breakdown and returning to the level of 1.1639. The main goal will be an update of 1.1722, where it is recommended to lock in profits for today. In the event of a decline below 1.1639, it is best to return to long positions only after a larger support test at 1.1602.
To open short positions for EURUSD, it is required:
A false breakdown and the return to the level of 1.1673-80 against the background of weak fundamental data on the euro area will be a good signal for opening new short positions in the European currency. The fastening below 1.1639 will also lead to selling and a renewal of the larger support at 1.1602, where it is advised to lock in profits for today. In the event of a growth in the euro above 1.1673, it is advised to return to short positions only for a rebound from 1.1722.
GBP/USD
To open long positions for GBP/USD, it is required:
Market focus is on inflation data in the UK. Buying is best seen after a consolidation above 1.3124, which may lead to the renewal of larger resistance levels at 1.3160 and 1.3186, where it is advised to lock in profits for today. In case the pound declines against the background of weak data, it is advised to return to long positions after forming a false breakout at 1.3040, or to rebound from 1.2996.
To open short positions for GBP/USD, it is required:
A fastening below 1.3100 could lead to the selling of the pound towards the area of 1.3077. The removal of a number of stop orders under this area will lead to the collapse of the GBP/USD pair in the area of 1.3040 and 1.2996, where it is advised to lock in profit. In the event of a sharp increase in the pound due to the latest data, it is best to return to short positions after forming a false breakout at 1.3160, or to rebound from 1.3186.
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
