Trading Conditions
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Tools
EUR / USD
To open long positions for EUR / USD, it is required:
Consider new purchases of euros after the breakdown and consolidation above the level of 1.2393, or on a false breakout from the support level of 1.2337 with a return to the level of 1.2354, which will serve as a good signal to increase long positions. In the case of a decline in the euro at the level of 1.2337 in the morning, consider that the new long positions are best for a rebound from the level of 1.2305, or after the upgrade of the larger support in the area of 1.2251.
To open short positions for EUR / USD, it is required:
The formation of a false breakout at the level of 1.2393, or breakdown and consolidation below the level of 1.2354, could lead to a further downward trend for the euro in the morning in the support area of 1.2305, with the main purpose of the update to the level of 1.2251, where I recommend fixing the profits. With a growth option above the level of 1.2393, you can sell the euro on a rebound from the level of 1.2427.
GBP / USD
To open long positions for GBP / USD, it is required:
Only the formation of a false breakout at the level of 1.3918 and a return to the level of 1.3942 will allow pound buyers to count on a more powerful push up to the resistance area of 1.4006. The consolidation above this range will lead to further GBP / USD growth already with the update of 1.4061, where I recommend fixing the profit. In the case of a further decline in the pound, you can only buy for a rebound from the level of 1.3865.
To open short positions for GBP / USD, it is required:
Failure to fix to 1.4006, or return to the level of 1.3942 will be a good signal to increase short positions in GBP / USD pair. However, the main goal will be the breakthrough of the level of 1.3918, which will allow to expect further decrease of the pound to the support area of 1.3865, where I recommend fixing the profits. In the case of growth above the level of 1.4006, you can sell the pound immediately for a rebound from the level of 1.4061.
Indicators
MA (average sliding) 50 days - yellow
MA (average sliding) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
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