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13.10.201701:43 Forex Analysis & Reviews: Trading plan for the US session on October 12, 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 on EURUSD, it is required:

It is recommended to buy back the euro only after the return and consolidation at the resistance level of 1.1868, which was formed earlier in the morning. Only after this can you expect to update the daily highs to around 1.1910. In case of a further decline in the euro, it is recommended to go back to buying only after updating the support level to 1.1835 when there is a false breakdown or when on a rebound from 1.1803.

To open short positions on EURUSD, it is required:

Unsuccessful consolidation above 1.1868 will be an additional signal to increase short positions in the euro with the purpose of updating to 1.1835 and a further exit to a larger support level at 1.1803, where it is recommended to lock in profits. In case of growth above 1.1868, returning to short positions is best on a rebound from 1.1910.

Exchange Rates 13.10.2017 analysis

GBP / USD

To open long positions on GBPUSD, it is required:

Considerations in buying the pound is best after a false breakdown at 1.3132 or a rebound from a larger support level of 1.3084. Fastening above 1.3177 will also allow buyers to win back a number of positions and return the GBP / USD pair to the resistance area of 1.3221.

To open short positions on GBPUSD, it is required:

Sellers have perfectly worked all the levels today and the main goal at the moment is the area of 1.3132, where the market may begin short-term profit taking on short positions. In the event that a quick rebound upwards from this range does not occur, then we can expect a further fall of the pound to the area of 1.3084.

Exchange Rates 13.10.2017 analysis

Indicator description

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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