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EUR / USD pair
To open long positions for EUR / USD pair, you need:
It is best to return buying the euro only after a successful breakdown and consolidation above the level of 1.1807. Another scenario is when it rebounds after a decline to a larger support area located at 1.1764, where it will also be possible to observe profit taking on short positions. In the case of a breakdown at the level of 1.1764, it is recommended to consider new purchases of the euro only for a rebound from 1.1727.
To open short positions for EUR / USD pair, you need:
It is best to consider selling new positions for euro after it failed to fix above the level of 1.1807. Returning to this level will open a real opportunity to update the daily target of sellers in the area of 1.1764, where fixing profits are recommended. If there is no quick sale of the euro after reaching the level of 1.1807, it is best to postpone the short positions to test at the level of 1.1829.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Buyers are trying to gain a foothold above the level of 1.3292, but so far there is no large demand for the British pound. The main goal is to attain the daily highs of last Friday in the area of 1.3334. A return to the level of 1.3292 could lead to a further drop of the pound. Hence, opening new long positions will be best after a false breakout in the area of 1.3248 or a rebound from 1.3208.
To open short positions for GBP / USD pair, you need:
Sellers can return to the market after another decline to the level of 1.3292, which will open a real opportunity to update towards 1.3248. A consolidation below this level will lead to the collapse of the GBP/USD pair which is already at the support level of 1.3208, where fixing profits are recommended for today. It is recommended to open new short positions after updating the high-level last Friday at 1.3334.
Fears of indicators
To familiarize with the basic concepts and the general rules of my TS is possible here.
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