EUR/USD
To open long positions on EURUSD, it is required:
Buyers are not yet willing to return to the market. The most optimal option for long positions is now visible in the support area of 1.1803 and subject to the formation of a false breakdown on it. In the event of a breakdown of 1.1803, the best way to buy the euro is to return after updating a larger support level 1.1764 immediately from a rebound. If the pair manages to return to the level of 1.1838, the continuation of the upward trend in the area of weekly highs - 1.1875, can be expected.
To open short positions on EURUSD, it is required:
While the trade is below 1.1838, the euro can be expected to fall further to the area of 1.1803 with the main goal of reaching a larger support 1.1764. However, much will depend on the data on inflation in the US. In case of EUR/USD returning to resistance level 1.1838, it is best to postpone sales until the renewal of the area is 1.1875, or to rebound from 1.1906.
GBP/USD
To open long positions on GBPUSD, it is required:
The fixation above 1.3290 did not lead to a larger upward trend for the pound in the morning. At the moment, only a second return to 1.3300 will be a good signal to increase long positions in GBP/USD in order to reach a new weekly high of 1.3363 and update 1.3412, where it is recommended to lock in profit. In the case the pound declines in the afternoon, it is recommended to rely on the level of 1.3217, for the formation of a false breakdown there, or for a rebound from 1.3172.
To open short positions on GBPUSD, it is required:
Return to the selling of the pound can be done after another unsuccessful attempt to rise above the level of 1.3300 in order to reduce the area of new daily lows to the area of 1.3217. Good data on inflation in the US can increase pressure on the British pound, which will bring GBP/USD to the area of the larger support 1.3172. In the case of a rise above 1.3300, consider selling the pound best after upgrading to 1.3363.
Descriptors
MA (moving average) 50 days - yellowMA (moving average) 30 days - greenMACD: fast EMA 12, slow EMA 26, SMABollinger Bands 20