FX.co ★ Trading plan in the US session on July 17 EUR/USD and GBP/USD

EUR / USD

To open a long position on EURUSD, it is required to:

The entry from 1.1440 in the morning session has completely worked itself out, and now I recommend raising long positions on the euro only after resistance is fixed above 1.1466 with the further purpose of updating 1.1494.

To open a short position on EURUSD, it is required to:

Sellers will try to form a false breakdown at 1.1466, which will be the first signal for the opening of short positions to return to the level of 1.1440.

GBP / USD

For opening long positions on GBPUSD, it is required to:

Buyers are trying to keep the morning level at 1.3060, which could trigger the pair to increase at 1.3095, which was formed today in the morning.

For opening short positions on GBPUSD, it is required to:

Selling the pound today will not be the right thing to do even after trying to consolidate below 1.3060, because at any time a major buyer can return to the market and a reversal will occur.

Indicators

• MA (moving average) 50 days - yellow
• MA (moving average) 30 days - green
• MACD: a fast EMA 12, Slow EMA 26, SMA
• Bollinger Bands 20

Levels of support and resistance are built on the basis of market volumes. More informations about trading systems can be found in my blog.