EUR / USD pair
To open long positions for EUR / USD pair, you need:
Further growth will depend on the behavior of customers after an attempt to break the level of 1.2470, which could lead to further growth in the euro area towards the resistance level of 1.2514 followed by testing the area of 1.2558, where fixing profits are recommended. In case of a decline in the euro in the morning, long positions can be sought after the formation of a false breakdown at the level of 1.2426 or a rebound from 1.2387.
To open short positions for EUR / USD pair, you need:
The formation of a false breakdown at the level of 1.2470 and returning below this area in the first half of the day allows traders to open short positions in the euro to decline towards the first intermediate support around 1.2426. The main goal of the sellers will be updating the level of 1.2387, where fixing profits are recommended. In the case of growth above 1.2470, you can sell the euro after updating the level of 1.2514 or immediately on the rebound from 1.2558.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Further growth will depend on the behavior of buyers after the attempted breakdown of 1.4022, which could lead to further growth of the British pound in the resistance area of 1.4062 followed by testing in the area of 1.4129, where fixing profits are recommended. In the case of a pound drop in the morning, long positions can be sought after the formation of a false breakdown at the level of 1.3980 or a rebound from 1.3940.
To open short positions for GBP / USD pair, you need:
Forming a false breakout at 1.4022 and returning to the said level in the morning signal short positions in the pound can be opened. The goal is to reduce the first short-term support in the area of 1.3980. The main goal of the sellers will be updating the level of 1.3940, where fixing profits are recommended. In the case of growth above 1.4022, you can sell the pound after updating the level of 1.4062 or immediately on the rebound from 1.4129.
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.
