FX.co ★ Trading plan for the US session on August 9, EUR / USD and GBP / USD

EUR / USD

To open long positions for EUR/USD, you need:

The false breakdown at 1.1725 is done, and while the pair is above this level, there is a real possibility for further upward movement with an update to 1.1768 and exit to 1.1811, where I recommend fixing the profit. In the case of a return to 1.1725, a breakthrough of this level may occur, as it will be the fourth test, so it's best to postpone purchases to a larger support of 1.1671, or a rebound from 1.1624.

To open short positions for EUR/USD, it is required:

The sellers face the main task of breaking and consolidating below 1.1725, which opens a real opportunity for a further fall of the European currency to support 1.1671 and 1.1624, where I recommend fixing profits. If the euro rises in the second half of the day from the level of 1.1725, I recommend returning to sales only after a false breakdown of 1.1768, or to a rebound from 1.1811.

GBP / USD

To open long positions in GBP/USD, you need:

To return to the buyers' market, you must generate a false break at 1.2983, from which you can expect to return to the resistance level of 1.3017, which will lead to a larger upward trend in the pound with an update to 1.3051, where I recommend fixing profits. In the case of a breakthrough of 1.2983, I recommend buying back the pound only after updating to 1.2936.

To open short positions for GBP/USD, it is required:

Sellers will try to gain a foothold today below 1.2983, which will be a good signal for the opening of new short positions with the main purpose of updating support of 1.2936 today. If the buyers manage to keep the level of 1.2983, then it's better to go back to selling the pound after an unsuccessful attempt to gain a foothold above 1.3017 or to rebound from 1.3051.

Indicators

MA (medium sliding) 50 days - yellow

MA (medium sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20