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EUR / USD pair
To open long positions for EUR / USD pair, you need:
Buyers managed to return to the morning support level around 1.1937, which keeps the ascending potential. Now, the attention of traders is focused on breakdown and consolidation above 1.1967, which will lead to the formation of a new wave of euro growth and update the level of 1.2003. This will be followed by an exit to the weekly high around 1.2044, where fixing profits are recommended. If the euro decline below the level of 1.1932, it is best to expect a rebound from 1.1900 for new purchases.
To open short positions for EUR / USD pair, you need:
Sellers failed to achieve good results, and all attention will be centered on support level of 1.1932. Only a real breakdown and consolidation under this level will lead the EUR / USD pair to the region of new lows in the area of 1.1900 and 1.1866, where fixing profits are recommended. In case of growth above 1.1967, it is advised to look for short positions after the renewal of 1.2003.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Counting on new pound purchases is best after breaking through and fixing at the level of 1.3500, which will lead to the removal of stop orders of the sellers and quick recovery to the area of 1.3531 and update at 1.3558, where fixing profits are recommended. In the case of a further decline in the pound, new long positions are best opened after moving towards 1.3454.
To open short positions for GBP / USD pair, you need:
While trading below 1.3500, a further decline in GBP / USD pair is expected to the region of intermediate support level at 1.3454 aiming for an update to the level of 1.3429, where fixing profits are recommended. In the case of growth above 1.3500, short positions can be opened on a rebound from 1.3531.
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To familiarize with the basic concepts and the general rules of my TS is possible here.
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