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EUR/USD
To open long positions for EURUSD, it is required:
Buyers of the European currency are, most likely, gradually exhausted. In the event of a release of good US data, you can expect an increase in pressure on the euro. Whereas in the opposite case, larger long positions above 1.1900 could lead to an update of 1.1930, where it is advised to lock in profits. In case the euro declines on the data, it would be best to consider buying for a rebound from 1.1880.
To open short positions for EURUSD, it is required:
The formation of a false breakout and an unsuccessful consolidation above 1.1899 would be a good signal for opening short positions in the EUR/USD pair with an outlook to fall towards the level of 1.1880 and gain further access to a more important range of morning support at 1.1866, where it is advised to lock in profits. The main purpose of major sellers will be an update of 1.1830.
GBP/USD
To open long positions for GBP/USD, it is required:
Updating the local highs on December 18 and 20 did not benefit the buyers, which resulted in a level of 1.3426. A return to the level will lead to a further upward trend in the GBP/USD pair with an update at 1.3447 and 1.3478, where it is advised to lock in the profit. In the event of a further decline in the pound, you can open long positions immediately at a rebound of 1.3288.
To open short positions for GBP/USD, it is required:
The false breakdown and return at 1.3417, with a new resistance level of 1.3426, is a good signal for opening short positions, with a small stop-order above the current high. The main goal of the sellers will be a decline towards 1.3400 and an update of 1.3388, where it is advised to lock in the profit.
Indicator description
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