Euro is still clinging to daily highs, and buyers are clearly not going to budge from their plan to break 1.0830. Meanwhile, things are a little different with pound as after the hearing of the Treasury committee, pressure returned. But buyers shook the downward momentum quickly, and are now also aiming for the breakdown of daily highs. Upcoming data on US consumer confidence could help in this regard as a weak reading will probably lead to a breakdown of nearest resistances.
EUR/USD
For long positions:
Buy euro when the quote reaches 1.0833 (green line on the chart) and take profit at the price of 1.0872.
Euro can also be bought at 1.0811, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0833 and 1.0872.
For short positions:
Sell euro when the quote reaches 1.0811 (red line on the chart) and take profit at the price of 1.0782.
Euro can also be sold at 1.0833, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0811 and 1.0782.
GBP/USD
For long positions:
Buy pound when the quote reaches 1.2339 (green line on the chart) and take profit at the price of 1.2390 (thicker green line on the chart).
Pound can also be bought at 1.2302, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2339 and 1.2390.
For short positions:
Sell pound when the quote reaches 1.2302 (red line on the chart) and take profit at the price of 1.2243.
Pound can also be sold at 1.2339, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2302 and 1.2243.
