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24.07.201714:56 Forex Analysis & Reviews: Trading plan for the US session on July 24, EUR / USD and GBP / USD

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR / USD

To open long positions for EUR / USD, it is required:

An attempt was made to restore the euro from the level of 1.1636 in the first half of the day. While the pair is above this area, there is a real chance of continuing growth in the resistance range of 1.1669, and consolidation on it opens a real opportunity to update the monthly highs around 1.1708 and 1.1753. In the case of return to the support range of 1.1636, I recommend postponing the purchase until the level of 1.1602 is updated.

To open short positions for EUR / USD, it is required:

Sellers returned to the market only after retesting and consolidation below the level of 1.1636, which opens a direct road to the support area of 1.1602 and 1.1564, where I recommend fixing profits. If the euro rises above 1.1169, I recommend returning to sales only after updating to 1.1708 or on a rebound from 1.1753.

Exchange Rates 24.07.2017 analysis

GBP / USD

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

Pound buyers managed to break above 1.3014, which led to the renewal of the level of 1.3048. At the moment, I advise you to increase long positions only after the repeated test of 1.3048, since the fastening at this level will lead to a new wave of growth of the British pound with the renewal of the resistances of 1.3083 and 1.3121. In the case of a downward correction, I recommend returning to purchases only after updating to 1.3010 or on a rebound after descent to the area of 1.2963.

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

Sellers are trying to stay below the level of 1.3048, but a large rebound from it was not formed, which suggests the second test of this area in the afternoon. Only after the next generation of a false breakdown at 1.3048, I advise you to return to selling the pound in order to return to the support of 1.3014 by the end of the day, as well as update to 1.2963 in the course of tomorrow's bidding. In the case of a pound rising above 1.3048, selling is best for a rebound from a large resistance of 1.3083.

Exchange Rates 24.07.2017 analysis

Indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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