FX.co ★ Trading plan for the European session on February 12 EUR / USD and GBP / USD

EUR / USDTo open long positions on EURUSD, it is required:The continuation of the growth of the euro can be expected only after the breakdown and consolidation above the resistance level of 1.2294, which will lead to the renewal of the new high near the level of 1.2339, where it is recommended to lock in profits. In case of a decline in the euro in the morning, purchases can be calculated after a false breakout from 1.2253 or a rebound from 1.2213.To open short positions on EURUSD, it is required:The formation of a false breakout at the level of 1.2294 may lead to the continuation of the downward trend for the euro in the morning to the support area of 1.2253. The consolidation below this level will push the EUR / USD further down to the area of 1.2213, where it is recommended to lock in profits. With a growth option above 1.2294, you can sell the euro on a rebound from 1.2339.

GBP / USDTo open long positions on GBP / USD, it is required:Opening long positions on the pound is best after a downward correction to the level of support at the level 1.3816, provided there is a false breakdown there. Alternatively, you can buy the GBP / USD immediately at a rebound from 1.3816. The main target for long positions will be the resistance update of 1.3891 with an exit to the level of 1.3957.To open short positions on GBP / USD, it is required:Failure to fix at the level of 1.3891 and return to this level will be the first signal to increase short positions in the GBP / USD with a goal to lower to the 1.3816 area and update last week's low at 1.3769, where it is recommended to lock in profits. In case of the pound rising above the level of 1.3891, you can open short positions at once to rebound from 1.3957.

Indicator descriptionMA (moving average) 50 days - yellowMA (moving average) 30 days - greenMACD: fast EMA 12, slow EMA 26, SMA 9Bollinger Bands 20