FX.co ★ Trading plan for the US session on September 8 EUR / USD and GBP / USD

EUR / USD

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

Buyers still do not have enough strength to return to an important resistance level of 1.2073. Only a break above 1.2037 will open a new opportunity for the euro to rise in the range of new annual highs in the area of 1.2123 and 1.2164, where I recommend fixing profits. In the case of a decline in the euro in the afternoon, it is best to go back to shopping on a false breakout from the level of 1.2037 or on a rebound from 1.1988.

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

I recommend selling the euro only after reaching new highs around 1.2123, with a false breakout and return under the level, or at a rebound from resistance 1.2164. In case of an unsuccessful attempt to grow the euro above 1.2073 in the afternoon, with a return to it, you can see short positions with a view to a downward correction to areas 1.2037 and 1.1988, where I recommend fixing profits.

GBP / USD

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

Buyers have fulfilled almost all the goals, which I advised to pay attention to their morning forecast. At the moment, I recommend to open new long positions only after correction with a return to the level of 1.3179 or to rebound from support 1.3140. I do not advise going into purchases at current highs.

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

Sellers failed to stop the pound in the area of 1.3179, and on the 5-minute chart, you can see how the breakdown occurred with the fastening above, after which the upward trend continued. At the moment, you can count on the rebound of the pound from the level of 1.3223 about 20 or 25 points. To rely on a larger downward movement and go against the trend is not recommended. In the event of a breakdown of 1.3223, you can search for a pound sale higher, from 1.3260.

Indicators

MA (medium sliding) 50 days - yellow

MA (medium sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20