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EUR / USD pair
To open long positions for EUR / USD pair, you need:
While the trade is above the level of 1.2439, you can count on the continued growth of the euro in the second half of the day with the update of the large resistance 1.2501, where fixing profits are recommended. In the case of a return to the level of 439, new long positions are better considered after testing the level of 1.2391 or immediately on the rebound from 1.2341, which would update towards the level of 1.2400 by the end of the day.
To open short positions for EURUSD, you need:
Fixing below the level of 1.2439 may call into question the further growth of the euro, which will lead to a downward correction in the support area of 1.2391. A good data on the labor market in the U.S. may return the demand for the U.S. dollar, good data on the labor market in the US may return demand for the US dollar, where fixing profits are recommended.
GBP / USD pair
To open long positions for GBP / USD pair, you need:
It is recommended to return to purchasing the British pound only after consolidating above 1.4182, which will allow you to count on further growth with the update of 1.4262.Moreover, the main goal of the exit will be 1.4338, where fixing profits are recommended. In the case of a pound drop in the afternoon, it is best to consider long positions once a rebound occurs from 1.4068.
To open short positions for GBP / USD pair, you need:
While the trade is below the level of 1.4182, a further decline in GBP / USD, is fixed to a larger support area at 1.4068 and 1.4024, where fixing profits are recommended. In the case of growth above 1.4182, it is possible to open new short positions immediately for a rebound from 1.4262.
Indicators description
To familiarize with the basic concepts and the general rules of my TS is possible here.
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