09.02.201814:31 Forex Analysis & Reviews: Trading plan for the US session on February 9 EUR/USD and GBP/USD

EUR/USD

To open long positions on EURUSD, it is required:

It is best to consider new long positions after updating a large support level located in the area of 1.2213, or after returning and settling above the middle of the side channel 1.2253. In this case, the primary target of buyers will be the update of the morning high at 1.2290, where it is recommended to lock in profits.

To open short positions on EURUSD, it is required:

While the trade is below 1.2253, we can expect further decline in the euro in order to update the level of 1.2213 and the main goal of entering the new weekly low in the area of 1.2176, where it is advised to lock in profits. In case of growth above 1.2253, selling the euro is best on a rebound from 1.2290.

GBP/USD

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

Pound selling has resumed, and now the first intermediate support level is the area of 1.3808. Only the formation of a false breakdown with recovery to 1.3845 area will it be possible to expect correction in the afternoon to resistance 1.3921, where it is recommended to lock in profits. With the breakdown variant 1.3808, it is possible to seek new long positions on a rebound from 1.3758.

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

While the trade is below 1.3845, we can expect the pound to fall further to the area of 1.3808 with the key goal of reaching the monthly low in the 1.3758 area, where it is recommended fixing the profit. In case of a return to 1.3845 in the afternoon, you can immediately sell GBP/USD on a rebound from 1.3921.

Descriptors

• MA (moving average) 50 days - yellow
• MA (moving average) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA
• Bollinger Bands 20