18.08.201709:18 Forex Analysis & Reviews: Trading plan for the European session on August 18 EUR / USD and GBP / USD

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EUR / USD

To open long positions for EUR/USD, it is required:

I advise you to return to euro purchases only after successful attempts to consolidate above 1.1744 level, which will open a good opportunity to update the upper border of channel 1.1785, where I recommend fixing profit today. In the case of a decline in the euro in the morning, you can see the purchases after a false breakdown of the level of 1.1716, or on a rebound from the larger support located at the lower border of the channel 1.1681.

To open short positions for EUR/USD, it is required:

Sellers will expect to generate a false breakout of 1.1744 and return to this level, which will lead to a new downward wave in the euro with an update of 1.1716 and an exit to the weekly low in the area of 1.1681. The growth of the euro above 1.1744 may be limited by the resistance of 1.1757. If there is no downward turn, then I advise you to postpone sales to the resistance of 1.1785.

GBP / USD

To open long positions for GBP/USD, you need:

Buyers can claim themselves after successful attempts to consolidate above 1.2897, which failed yesterday, which will lead to the formation of a new upward wave with an update of 1.2954, where I recommend fixing profits. If the pound is down in the morning, the last hope for growth will be the support of 1.2863, as its breakdown will lead to a new sharp wave of GBP / USD decline.

To open short positions for GBP/USD, you need:

Sellers will try to form a false breakdown at level 1.2897, it is quite possible after updating the highs of yesterday, which will lead to a second return to the support area of 1.2863. The fastening under 1.2863 will be the second task, as the breakthrough of this range will return to the big players market, which will led the pound into the region of new monthly lows in the area of 1.2817 and 1.2761.

Indicators

MA (medium sliding) 50 days - yellow

MA (medium sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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