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EUR/USD
To open long positions for EURUSD, it is required:
Political problems in Germany have crashed the euro. A return to long positions is recommended after the formation of a false breakdown at the level of 1.1725, with the update of today's low, which can lead to an upward trend for the euro in the area of 1.1766, where it is advised to lock in profits. Further growth in the area of 1.1803 can be expected only after a consolidation above 1.1766. In the event of a decline below 1.1725, it is best to go back to a rebound from 1.1683.
To open short positions for EURUSD, it is required:
The re-test at 1.1725 may lead to its breakdown, and the consolidation below this level will be an additional signal to increase short positions in order to update 1.1683, where it is advised to lock in today's profit. In the event of a growth in the euro during the first half of the day, short positions can be considered after the test at 1.1766.
GBP/USD
To open long positions for GBP/USD, it is required:
A break above 1.3214 would be a good signal to open long positions on the pound for the purpose of updating and the exit towards 1.3254, where it is advised to lock in profits. In the event of a strong consolidation above 1.3214, a powerful bullish momentum is not formed, buying is advised to be postponed to the test of larger support levels around 1.3170 and 1.3146.
To open short positions for GBP/USD, it is required:
A false breakout of 1.3214, or a re-decline towards 1.3187, will serve as a good signal for an increase in short positions in the GBP/USD pair. In terms of decline and a test of a large support at 1.3146, where it is advised to lock in profits. A minor problem for bears may be the intermediate level of 1.3170, from which a rebound may be observed upwards towards the resistance area of 1.3187. If the pound is above 1.3214, selling is advised only after last Friday's high with a return at 1.3254.
Indicator description
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