EUR/USD
To open long positions for EURUSD, it is required:
The upward trend in the euro is slowing. You can consider new purchases after consolidating above 1.1875 for the purpose of updating 1.1900 and entering a new high at 1.1935, where I recommend locking in profits. In the event of a decline in the euro in the morning, you can open long positions after a false breakdown of 1.1856, but it would be best done immediately towards a rebound from 1.1833.
To open short positions for EURUSD, it is required:
The formation of a false breakout and the failure to consolidate above 1.1875 would be a good signal for opening short positions in the EUR/USD pair with a prospect of a drop to the level of 1.1856, from where the selling will lead to a larger support area of 1.1833, where it is advised to lock in profits. If the euro rises above 1.1875, in the morning, you can go back to selling after the test of 1.1900 or on a rebound from 1.1935.
GBP/USD
To open long positions for GBP/USD, it is required:
A return and consolidation at the level of 1.3372 will allow buyers to rely on a larger upward trend with an update of 1.3401 and a breakthrough to the weekly high near 1.3437, where it is advised to lock in profits. In the event of a further decline in the pound, long positions can be considered towards a rebound from 1.3332 or lower, from the lower border of the channel of 1.3302.
To open short positions for GBP/USD, it is required:
While the trade is below 1.3372, we can expect a further drop in the pound. Failure to consolidate and a return below 1.3372 will also serve as a good signal for selling the GBP/USD pair in terms of updating 1.3332 and reaching the lows of the month around 1.3302, where it is advised to lock in profits. In case of growth above 1.3372, you can consider short positions for a rebound from 1.3401 or after updating 1.3437.
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
