FX.co ★ Trading plan for the European session on 1 September EUR/USD and GBP/USD

EUR / USD

To open long positions on EURUSD, it is required:

The return of the buyer can be estimated only after steadying at the level of 1.1905, which was missed in the Asian session.

To open short positions on EURUSD, it is required:

Sellers will try to form a clear breakdown at level 1.1905, which will be a good signal for the increase of short positions with the main goal of consolidation under the first support level 1.1870, below which one can expect the euro to decline to 1.1827 and 1.1790 .

GBP / USD

To open long positions on GBPUSD, it is required:

It is recommended to count on buying after the breakdown and consolidation above the level of 1.2937, with the purpose of updating 1.2969 and reaching a new monthly high of 1.3014. If the pound is lowered to the intermediate support of 1.2906, it is best to return to new long positions after a false breakdown of 1.2868, or on a rebound from 1.2815.

To open short positions on GBPUSD, it is required:

Sellers will try to form a false breakdown of 1.2937, and a return to this level will be an additional signal to increase short positions in the pair with a prospect to lowering to the lower limit of 1.2906. Breakdown and consolidation below 1.2906 will open a good opportunity for a further fall of the pound for the purpose testing 1.2868 and 1.2815, where it is recommended to fix the profit.

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