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18.08.201713:12 Forex Analysis & Reviews: Trading plan for the US session on August 18 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:

The buyers have not managed to build a major upward movement, creating a new resistance level of 1.1751. The consolidation on it will lead to a second attempt at growth to the area of yesterday's high at 1.1785, where I recommend fixing profits. In case of a decline in the euro in the afternoon, I recommend that you go back to your purchases only after a false breakout is formed in the 1.1716 support area or immediately to a rebound from 1.1681.

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

Sellers will try to keep the pair below 1.1751, which will gradually lead to pressure on the euro and update the daily low in the area of 1.1716. Fixing below this level will allow forming a good signal to euro sales already with the purpose of updating 1.1681, where I recommend fixing profit. In the case of growth above 1.1751, I recommend going back to sales for a rebound from 1.1785.

Exchange Rates 18.08.2017 analysis

GBP / USD

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

The British pound has formed a new resistance in the area of 1.2908. Only consolidation above this level will lead to an increase in the region of a new maximum of 1.2954, where I recommend fixing profits. In case the pound is lowered in the afternoon to the support area 1.2863, it is best to go back to shopping there after forming a false breakdown, or postpone long positions until upgrade 1.2817.

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

While the pound is below 1.2908, you can expect to further reduce the pair to the support area of 1.2863. The growth and formation of false breakdown at 1.2908 will be an additional signal to increase short positions. An anchorage below 1.2863 will allow the formation of a new, larger downward wave in the British pound, which will lead to test 1.2817, where I recommend fixing profits.

Exchange Rates 18.08.2017 analysis

Indicators

MA (medium sliding) 50 days - yellow

MA (medium 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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