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EUR/USD
To open long positions for EURUSD, it is required:
In general, nothing critical has happened. Given that the US is celebrating the Thanksgiving holiday, market volatility will be extremely low. Only a real break with a consolidation above the level of 1.1840 will be a good signal to continue buying the euro in order to reach the new monthly highs in the areas of 1.1876 and 1.1906, where it is advised to lock in profits for today. In the event of a decline in the euro during the morning, consider new long positions after updating 1.1810 or on a rebound from 1.1770.
To open short positions for EURUSD, it is required:
The false breakdown and a return below 1.1840 may lead to a larger downward correction towards the area of 1.1810. Given the holiday, it is unlikely to expect a larger decline in the euro to 1.1700 for today.
GBP/USD
To open long positions for GBP/USD, it is required:
Bulls retreated from the highs and, as expected, tried to hold above 1.3292. While trading above this level, you can expect a retest of 1.3325 with a subsequent exit towards 1.3371 and 1.3412, where it is advised to lock in profits. In the event of a breakout of 1.3292, it would be best to consider buying from a rebound of 1.3257.
To open short positions for GBP/USD, it is required:
The next test is at 1.3292 which can lead to a breakdown of this level. This will allow sellers to expect an update of a larger support at 1.3257, where it is advised to lock in profits. If the pound increases in the afternoon to 1.3325, selling would be best postponed for a rebound of 1.3371.
Indicator description
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
