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EUR/USD
To open long positions for EURUSD, it is required:
The market continues to trade in a narrow channel, breaking the levels. At the moment, there is a morning support in the area of 1.1772, and while the trade is higher, we can expect another attempt to increase resistance towards 1.1809, where it is advised to lock in profits for today. In the event of a breakout of 1.1772, it is best to postpone buying to a support of 1.1747 or open long positions immediately at a rebound of 1.1714.
To open short positions for EURUSD, it is required:
Only the consolidation below 1.1772 will be a good signal for an increase in short positions for the euro, with the main goal for today to reach support at 1.1747. A breakthrough in this range could lead to a larger selling towards the area of 1.1714. The formation of a false breakout at 1.1809 will also signal the selling of the euro with an outlook of a return to 1.1772 by the end of the day.
GBP/USD
To open long positions for GBP/USD, it is required:
Buyers failed to catch ahold of the morning resistance levels, which led to the selling of the pound. At the moment, one can rely on long positions only after forming a false breakdown at 1.3333 or on a rebound from a larger support of 1.3267. The main goal is to return to the highs of the day in the area of 1.3376.
To open short positions for GBP/USD, it is required:
The steadying below 1.3333 will indicate a direct presence in the sellers' market, which will crash the GBP/USD pair in the region of new lows of 1.3267 and 1.3224, where it is advised to lock in the profit. In case the pound grows, you can consider short positions only after updating 1.3376 or on a rebound from 1.3425.
Indicator description
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