Stay 
Trading Conditions
Products
Tools
Euro was kept afloat because underlying prices, which exclude the volatile food and energy categories, continued to rise despite a decline in the main indicator. Pound also did not fall as it reacted calmly to last year's UK GDP data even if it were revised upwards.
The focus now is the US statistics, particularly the PCE index, which should come above forecasts. That is likely to trigger a rise in dollar, which will result in a fall in both EUR/USD and GBP/USD. If the data fell short of expectations, risk appetite will surge. But given that it's the end of the week and month, it is unlikely that the increase will be very large.
EUR/USD
For long positions:
Buy euro when the quote reaches 1.0889 (green line on the chart) and take profit at the price of 1.0923.
Euro can also be bought at 1.0868, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0889 and 1.0923.
For short positions:
Sell euro when the quote reaches 1.0868 (red line on the chart) and take profit at the price of 1.0832.
Euro can also be sold at 1.0889, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0868 and 1.0832.
GBP/USD
For long positions:
Buy pound when the quote reaches 1.2391 (green line on the chart) and take profit at the price of 1.2416 (thicker green line on the chart).
Pound can also be bought at 1.2364, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2391 and 1.2416.
For short positions:
Sell pound when the quote reaches 1.2364 (red line on the chart) and take profit at the price of 1.2329.
Pound can also be sold at 1.2391, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2364 and 1.2329.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
