EUR / USD pair
To open long positions for EUR / USD pair, you need:
For buyers, the main task is to keep the pair above the level of 1.2343, as well as the return and consolidation at 1.2389, which will lead to a larger upward trend with the renewal of resistance at 1.2449, where fixing profits are recommended. In the case of a decline to 1.2343 in the morning, long positions can be calculated after a false breakout in the area of 1.2301 or buying the euro should immediately rebound from 1.2255.
To open short positions for EUR / USD pair, you need:
The formation of a false breakout at 1.2389 and a return to this level can lead to a correction of the euro in the morning to the support area of 1.2343. Fixing below this range will lead to a sale of a stronger level at 1.2301 and a support update of 1.2255, where fixing profits are recommended. In the case of growth above 1.2389, you can sell the euro for a rebound directly from level 1.2449.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Buyers will try to hold above the level of 1.4026, and the formation of a false breakdown at this level may lead to a return to the resistance area 1.4096. Only fixing on this range will allow the possibility for a larger upward correction with the update of 1.4164 and 1.4249. In the event of a further decline in GBP / USD pair, purchases can be sought in the 1.3969 area and from the larger support at 1.3920.
To open short positions for GBP / USD pair, you need:
The formation of a false breakout at 1.4096 may lead to a downward correction of the pound with a repeat test of intermediate support at 1.4026. A breakdown will lead to a larger sellout of GBP / USD pair with an update on the area of 1.3969 and 1.3920, where fixing profits are recommended. In the case of growth above 1.4096, selling the pound is best for a rebound from 1.4164.
Indicators description
- 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.
