Trading Conditions
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EUR / USD
To open long positions on the EURUSD, it is required:
To continue buying the euro, it is necessary to gain a foothold above the resistance level of 1.2388, which will lead to the breakdown at the level of 1.2404 and a further upward trend in the area of 1.2430, where it is recommended to lock in profits. In case of a decline in the euro in the morning, consider opening new long positions on the rebound from 1.2347.
To open short positions on the EURUSD, it is required:
The formation of a false breakout at 1.2388 or an unsuccessful fastening at 1.2404 with a return to 1.2388 would be a good signal for opening short positions in the euro with a view to reducing to the first interim support in the area of 1.2437. The main goal of the sellers will be the update to 1.2309, where it is recommended to lock in profits. In case of growth above the level of 1.2388, selling the euro can immediately be done on a rebound from 1.2430.
GBP / USD
To open long positions on the GBP / USD, it is required:
Only a break above the level of 1.3917 will lead to the further growth of the GBP / USD pair with the update of resistance at 1.3983 and the exit to the maximum of February 7 at the level of 1.4062, where it is recommended to lock in profits. In case of a drop in the pound in the first half of the day, you can look for long positions on a false breakout from 1.3868 or on a rebound from 1.3800.
To open short positions on the GBP / USD, it is required:
Another unsuccessful attempt to gain a foothold above 1.3917 will lead to the sale of the pound in the first half of the day to the area of 1.3868 and a consolidation under this area will collapse the GBP / USD to a larger support level of 1.3800, where it is recommended to lock in profits. If the pound is above the level of 1.3917, you can sell for a rebound of 1.3983.
Indicator description
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
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