FX.co ★ Trading plan for the European session on July 20 EUR / USD and GBP / USD

EUR / USD

To open long positions on EURUSD, it is required:

Today is an important meeting of the ECB, and much will depend on the speech of ECB President Mario Draghi, which in connection with technical levels may work very badly.

To open short positions on EURUSD, it is required:

Sellers today will try to gain a foothold below the level of 1.1505, which opens the way to support of 1.1474, and the comments of the ECB president may derail the European currency in the area of the larger level of 1.1440.

GBP / USD

To open long positions on GBPUSD, it is required:

On the pound, the buy signal will appear after consolidating above the level of 1.3048, which opens up the real possibility of upward movement already into the resistance area of 1.3083 and 1.3121, where it is recommended to lock profits.

To open short positions on GBPUSD, it is required:

Sellers will count on the formation of a false breakout in the region of 1.3048, which will lead to an increase in short positions to test 1.3014.

Fears indicators

• MA (moving average) 50 days - yellow
• MA (moving average) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20

Become familiar with the basic concepts and general rules of general of my TS here.