EUR / USD pair
To open long positions for EUR / USD pair , you need:
A break and consolidation above 1.2063 will lead to new monthly highs in the EUR / USD pair and update the levels of 1.2097 and 1.2123, where fixing profits are recommended. In the case of the decline of euro in the morning, long positions can be considered when forming a false breakout at 1.2020 or buying immediately for a rebound of 1.1987.
To open short positions for EUR / USD pair, you need:
The formation of a false breakout at 1.2063 will put pressure on the European currency, which may adjust the pair to the support area of 1.2020. Good data on inflation in the US will completely collapse the EUR / USD pair in the support area of 1.1987 and 1.1940, where fixing profits are recommended. In the case of euro growth in the first half of the day, it is recommended to return to short positions on the test levels of 1.2097 and 1.2123.
GBP / USD pair
To open long positions for GBP / USD pair , you need:
It is best to consider long positions on the pound after breaking through and consolidating above 1.3562, or after forming a false breakout at 1.3531. The main goal of the buyers will be a mid-channel breakdown and update of its upper limit in the area of 1.3589 and 1.3614, where fixing profits are recommended.
To open short positions for GBP / USD pair, you need:
The formation of a false breakout at 1.3562 or consolidation below 1.3531 would be a good signal for an increase in short positions of GBP / USD pair, which will lead to the renewal of larger support levels around 1.3498 and 1.3459, where fixing profits are recommended. If the pound is rising above 1.3562 in the morning, opening short positions in GBP / USD pair is recommended only for the rebound from 1.3589 and 1.3614.
Fears of indicators
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
To familiarize with the basic concepts and the general rules of my TS is possible here.
