EUR / USD
To open long positions on the EURUSD, you need:
While the trade is above 1.2417, you can count on continuing the upward momentum in the resistance area of 1.2485. Only a breakthrough and a consolidation at this level will open a good prospect for further growth with the update of the new monthly maximum near 1.2565, where it is recommended to lock in profits. In case of a fall below the level of 1.2417, opening long positions is best after the test at 1.2339 or on a rebound from 1.2255.
To open short positions on the EURUSD, you need:
The formation of a false breakout at 1.2485 and a return to this level could lead to a correction of the euro in the morning to the support area of 1.2417. Fixing below this range will lead to a sale to a stronger 1.2339 level, where it is recommended to lock in profits. In case of a more powerful downward momentum, the EUR / USD could collapse to the support area of 1.2255.
GBP / USD
To open long positions on the GBP / USD, you need:
As long as the trade is above 1.4146, we can expect to continue the upward trend with a break and a consolidation above 1.4236. This will lead to the renewal of annual highs around 1.4338 and 1.4402, where it is recommended to lock in profits. In case of a drop in the pound in the first half of the day under the level of 1.4146, it is recommended to pay attention to purchases only after updating to 1.4030 or on a rebound from 1.3920.
To open short positions on the GBP / USD, you need:
The formation of a false breakout at 1.4236 could lead to a downward correction in the pound with an intermediate support test of 1.4146, on which all further upward movement depends. Fixing below this range will hit a number of stop-orders of buyers that will crash the GBP / USD in the area of the larger support level of 1.4030, where it is recommended to lock in profits.
Indicator descriptions
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20