Main Quotes Calendar Forum
flag

FX.co ★ Trading plan for the European session on May 14 for the GBP/USD

parent
Forex Analysis:::2018-05-14T21:56:11

Trading plan for the European session on May 14 for the GBP/USD

To open long positions on GBP/USD, it is required:

Reduction and formation of a false breakdown at 1.3541 will be the first signal to buy pound. If there is no demand for 1.3541, one can look at long positions after the 1.3500 support test with a short stop order below. The main task of buyers will be to go beyond the upper limit of 1.3591, which opens a direct road to resistance 1.3639 and 1.3689, where it is recommend to lock in profits.

To open short positions on GBP/USD, it is required:

While the trade is below resistance 1.3591, the pressure on the pound will be maintained, which will lead to a sellout in the 1.3541 support area, but the main target will be the 1.3500 area test, where it is recommended fixing the profit. In the case of growth above 1.3591 in the morning, selling can be resumed on a rebound from 1.3639.

Trading plan for the European session on May 14 for the GBP/USD

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...