11.12.201709:30 Forex Analysis & Reviews: Trading plan for the European session on 11 December EUR / USD and GBP / USD

EUR / USD

To open long positions on EURUSD, it is required:

While the trade is above 1.1773, we can expect further euro growth in the resistance area 1.1811. Forming a false breakout 1.1773 with a return to this level will be an additional signal to buy and the beginning of an upward correction for the euro. In case of a decline in the euro in the morning, you can open long positions after updating to 1.1747 or on the rebound from 1.1714.

To open short positions on EURUSD, it is required:

The return to the level of 1.1773 will be a good signal for the continuation of the downward movement on the trend with an exit at 1.1747 and update at 1.1714, where it is recommended to lock in the profits. In case of euro growth in the morning, opening short positions is best on a rebound from 1.1811.

GBP / USD

To open long positions on GBPUSD, it is required:

Buying the pound is best done after the breakdown and consolidation above the level of 1.3419, as well as the moving averages, which are located at this level. The main goal is to update to 1.3470, where it is recommended to lock in the profits. In case of a pound drop in the morning, you can open long positions at once on a rebound from 1.3359.

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

The formation of a false breakout and a return at the level of 1.3419 will be the first signal for the opening of short positions on the pound with the purpose of updating the middle of the channel to 1.3385 and reaching a larger support level of 1.3359, where it is recommended to lock in the profits. In case of the pound rising above 1.3419, consider selling GBP / USD at once on a rebound from 1.3470.

Indicators 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