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EUR / USD
To open long positions for EUR/USD, you need:
While the trade is positioned above the 1.2428 level, it can be considered to continue. This area can only be broken through the positive comments of ECB President Mario Draghi during the press conference. The main target of the buyers will be the annual highs in the areas of 1.2533 and 1.2565. In case of a decline in the euro in the morning, it is recommended to look for purchases around 1.2388 and 1.2339.
To open short positions for EUR/USD, you need:
The formation of a false breakout at 1.2487 level and a return to this level may lead to the correction of the euro in the morning to the support area of 1.2428. Fixing below this range will lead to the sale of the stronger. 1.2388 level, and further fall depends on the ECB's decision. The target of the sellers will be the levels of 1.2338 and 1.2294, where it is recommended to fix profits.
GBP / USD
To open long positions for GBP / USD, you need:
As long as the trade is above 1.4284, the upward trend is expected to continue with a breakthrough. This could lead to the renewal of annual highs around 1.4402 and 1.4448 where it is recommended to fix profits. In case the pound will drop below the 1.4284 level during the first half of the day, it is recommended to pay attention to purchases only after an update of the 1.4218 level or a rebound from 1.4137.
To open short positions for GBP / USD, you need:
The formation of a false breakdown at 1.4333 level can lead to the downward correction in the pound, with the help of an intermediate support test of 1.4284 on which further upward movement depends. Fixing below this range will hit a number of buyers' stop-orders, which will crash the GBP / USD pair in the larger support region at 1.4218, where it is recommended to fix profits.
Indicators description
To familiarize with the basic concepts and the general rules of the TS is possible here.
* The presented market analysis is informative and does not constitute a guide to the transaction.
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