FX.co ★ Trading plan for the US session on August 24 EUR / USD and GBP / USD

EUR / USD

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

The alignment of forces has remained unchanged. I recommend going back to buying the euro after consolidating above the level of 1.1807, which will return the upward impulse, which will be aimed at updating the level of 1.1835, from which I recommend today to fix the profit. In the case of a decline in the euro in the afternoon, returning to buying is best when forming a false breakout at 1.1777, since it is at this level that most of the large orders for the continuation of the uptrend should be concentrated. In the event of a breakdown of 1.1777, it is better to postpone purchases before the rebound from 1.1742.

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

Sellers will try to form a false breakdown at the level of 1.1807, a return under which will be a good signal to open short positions to reduce the day's lows to the level of 1.1777, consolidation under which leads to a larger support of 1.1742, where I recommend fixing profit. If the euro rises above 1.1807 in the afternoon, I recommend selling only after updating the level of 1.1835.

GBP / USD

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

Buyers of the pound have reached an important resistance of 1.2830, which limits further upside potential in the pair. To increase long positions I recommend only after the breakdown and consolidation above, which will lead to the further growth of GBP / USD already in the area of resistance 1.2873, where it is best to fix the profit. In the case of a pound drop in the afternoon, I recommend that you go back to buying only a rebound from 1.2789.

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

Sellers are now working at level 1.2830 and the formation of a false breakdown on it will serve as an additional signal for the opening of larger short positions for the pound. The main goal will be a decline to support 1.2789, where I recommend fixing profits. If the pound is above 1.2830, you can see sales from an intermediate resistance of 1.2845, but it's best to expect a rebound from 1.2873.

Indicators

MA (medium sliding) 50 days - yellow

MA (medium sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20