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EUR / USD pair
To open long positions for EUR / USD pair, you need:
In comparison, the situation in the morning forecast has not changed while trades are above the level of 1.2417. You can expect the upward momentum in the resistance area of 1.2485 to continue, although this could not be broken in the morning. Only a breakout and consolidation at this level will open a good prospect for further growth with the update of the new monthly maximum near 1.2565, where fixing profits are recommended. In the case of a fall below the level of 1.2417, long positions are best searched after the test of 1.2339 or on a rebound from 1.2255. In the case of a fall below the level of 1.2417, long positions are best searched after the test 1.2339 or on a rebound from 1.2255.
To open short positions for EUR / USD pair, you need:
The formation of a false breakout at the level of1.2485 led to a small sale of the euro, but the steam did not receive a more powerful pulse. It is recommended to consider short positions only after consolidation below 1.241, which will lead to a sale to a stronger level at 1.2339, where fixing profits are recommended. In the case of a stronger downward momentum after GDP data, the target of the sellers will be to support the level of 1.2255.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
Buyers were able to fix above the level of 1.4236, however, there is still a serious demand for the pound and further growth will depend on data on the U.S. GDP. Weak data will allow customers to expect an update of annual highs in the area of 1.4338 and 1.4402, where fixing profits are recommended. f the pound drops below the level of 1.4236, it is recommended to pay attention to purchases only after updating of 1.4146 or a rebound from 1.4030.
To open short positions for GBP / USD pair, you need:
A return to the level of 1.4236 could lead to a larger sale of the British pound with a test of 1.4146 and the main goal of the decline to 1.4030 area, where fixing profits are recommended. In the case of continued growth in the pound, short positions can be sought after the formation of a false breakdown at 1.4338 or a rebound from 1.4402.
Indicators description
To familiarize with the basic concepts and the general rules of my TS is possible here.
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