30.01.201803:08 Forex Analysis & Reviews: Trading plan for the Asian session on January 30 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, it is required:

Consider new purchases of the EUR/USD after the repeated decline and the formation of a false breakout in the area of 1.2339 during the Asian session, which may lead to a return to the resistance area of 1.2389. If the buyers manage to get above 1.2389 during the Asian session, then I recommend that you keep long positions in euros before updating 1.2449.

To open short positions for EURUSD, it is required:

While trading is below 1.2389, you can count on a second test and a breakdown at 1.2339. However, a larger downward movement in the Asian session in the area of 1.2255 will unlikely occur, so the intermediate target is the area of 1.2300, where I recommend locking in profits.

GBP/USD

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

It is best to consider long positions on the pound after a return and consolidation at 1.4086, which may lead to a larger upward correction towards the area of 1.4159, where I recommend locking in the profit. In the event of a further decline, it would be best to buy the pound after a rebound from 1.4015.

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

While the trade is at 1.4086, we can continue to rely on the continuation of the pound's decline with an update at 1.4015 and the key goal of reaching a more powerful level of 1.3920, where I recommend locking in profits. In case of a return to 1.4086, short positions can be returned immediately to a rebound with a test of 1.4159.

Indicator description

• Moving Average (average sliding) 50 days - yellow
• Moving Average (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20