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09.01.201814:31 Forex Analysis & Reviews: The trading plan for the US session on January 9 for EUR / USD and GBP / USD

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR / USD

To open long positions for EUR/USD, it is required:

The pressure on the euro is maintained. Considering new long positions is best after upgrading the level of 1.1909 and forming a false breakdown there, or buying the euro already immediately on the rebound from the larger support of 1.1866. In the case of a return and consolidation at the level of 1.1940, buyers can return the pair EUR / USD to the area of 1.1967 already in the second half of the day.

To open short positions for EUR/USD, it is required:

While the trade is below 1.1940, you can count on the continuation of the bearish scenario with the update of 1.1909 and the further exit at 1.1866. The key target will be the area of 1.1830, where I recommend fixing profits. In the case of growth above 1.1940, selling EUR / USD is best at once to rebound from 1.1967.

Exchange Rates 09.01.2018 analysis

GBP / USD

To open long positions for GBP/USD, it is required:

According to the morning scenario, the level of 1.3522 has worked itself out, and while the trade is being conducted over it, one can count on continuing the upward trend with the update of 1.3552. The fastening at this level will lead to larger purchases and the return of GBP / USD to 1.3581 area. In the case of a re-descent to 1.3522, I recommend to postponing new long positions to the area of 1.3494.

To open short positions for GBP/USD, it is required:

Repeated test at 1.3522 can easily lead to the demolition of a number of stop-orders of buyers that will continue the downward trend of the pound with the release to a new weekly low near 1.3494, where I recommend fixing profits. The main goal of sellers remains in the area of 1.3453.

Exchange Rates 09.01.2018 analysis

Indicators

MA (medium sliding) 50 days - yellow

MA (medium sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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