12.12.201710:49 Forex Analysis & Reviews: Trading plan for the European session on 12 December EUR / USD and GBP / USD

EUR / USD

To open long positions on EURUSD, it is required:

Buying the euro is best after the re-growth and consolidation above 1.1779, from where you can expect a further upward trend with the renewal of resistance at the level of 1.1809 and the main target of exit at 1.1843, where it is recommended to lock in profits. In case of a decline of the euro in the morning, you can open long positions after updating to 1.1747 or on a rebound from 1.1714.

To open short positions on EURUSD, it is required:

The return to level 1.1779 with the formation of a false breakout will be a good signal for the continuation of the downward movement on the trend with an exit at 1.1747 and an update to 1.1714, where it is recommended to lock in profits. In case of euro growth in the first half of the day, opening short positions is best for a rebound from 1.1809.

GBP / USD

To open long positions on GBPUSD, it is required:

Good inflation data can lead to a breakout and consolidation above 1.3367. The formation of a false breakout at 1.3333 will only be an additional signal to increase long positions on the pound with a primary exit target at 1.3396 and an update to 1.3452, where it is recommended to lock in profits. In case of a pound drop in the morning, long positions can be opened to rebound from 1.3267.

To open short positions on GBPUSD, it is required:

Poor inflation data and consolidation below 1.3333 will indicate a direct presence in the sellers' market that will crash the GBP / USD pair to the area of new lows at 1.3267 and 1.3224, where it is recommended to lock in profits. If the pound is rising in the morning, consider opening short positions after updating to 1.3396 or at a rebound from 1.3452.

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