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Trading Conditions
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EUR/USD
To open long positions for EURUSD, it is required:
Buyers are working with a level of 1.2204. However, in order to fully restore the uptrend, a return to the resistance of 1.2245 is required, from which it will be possible to count on more powerful growth in the area of 1.2289 and an update at 1.2342. In the event of a retest at 1.2204, I recommend that you return to buying only for a rebound from 1.2160.
To open short positions for EURUSD, it is required:
While the trade is below 1.2245, the pressure on the euro will continue. A retest of 1.2204 may lead to a new wave of selling the EUR/USD and an update of key bearish targets towards areas of 1.2160 and 1.2127, where I recommend that you lock in profits. In the event of growth above 1.2245 in the afternoon, short positions are best returned to a rebound of 1.2289.
GBP/USD
To open long positions for GBP/USD, it is required:
You can consider new purchases of the pound after updating 1.3718,with the formation of a false breakdown in that level, or on a rebound from 1.3681. A break and the consolidation above the level of 1.3767 will be a good signal to increase long positions in the pound, with an outlook to return to the daily high in the area of 1.3812, where I recommend locking in profits.
To open short positions for GBP/USD, it is required:
While the trade is below 1.3767, we can expect a correction to continue towards the support area of 1.3718 with a very likely exit at 1.3681, where I advise that you lock in the profit. In case of growth above 1.3767, it is possible to open short positions for a rebound from 1.3812.
Indicator description
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