Euro continued to rise even though the macroeconomic calendar of the eurozone was empty this morning. GBP/USD also traded upwards, confidently reaching the monthly high. But this afternoon, there is a chance that the market will turn bearish, as the upcoming report on Germany's inflation and US labor market may spoil the mood of buyers. There will also be statements from FOMC member Neel Kashkari and Treasury Secretary Janet Yellen, which will most likely be about the future interest rate policy. The former may speak in favor of dollar, but the latter may weaken it, which will lead to a new surge in EUR/USD and GBP/USD.
EUR/USD
For long positions:
Buy euro when the quote reaches 1.0895 (green line on the chart) and take profit at the price of 1.0932.
Euro can also be bought at 1.0860, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0895 and 1.0932.
For short positions:
Sell euro when the quote reaches 1.0860 (red line on the chart) and take profit at the price of 1.0823.
Euro can also be sold at 1.0895, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0860 and 1.0823.
GBP/USD
For long positions:
Buy pound when the quote reaches 1.2352 (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 1.2334, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2352 and 1.2390.
For short positions:
Sell pound when the quote reaches 1.2334 (red line on the chart) and take profit at the price of 1.2303.
Pound can also be sold at 1.2352, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2334 and 1.2303.
