FX.co ★ Trading plan for the European session on September 13 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, you need:

On buying the euro for today, I advise that you pay attention after a breakdown and consolidation above the level of 1.1989, which opens a good opportunity for an upward movement to the larger resistance of 1.2024 and 1.2067, where it is best to lock in the profit. In the event of a decline in the euro in the morning, you can return to long positions with a test of the level at 1.1956, but the best option is the area of 1.1926.

To open short positions for EURUSD, you need:

Sellers will show up in case of an unsuccessful attempt to grow above 1.1989, which could lead to a downward correction in the support area of 1.1956 and 1.1926. Good data on inflation in the United States will pull down the pair that is already in the area of a larger level of 1.1879. In the event of a growth in the euro during the first half of the day, it is best to return to short positions after updating the level of 1.2024, or to rebound from 1.2067.

GBP/USD

To open long positions for GBPUSD, you need:

Buyers will try to settle at a resistance level of 1.3317, which may lead to the continuation of the growth in the British pound, which is already in the area of new highs at 1.3370 and 1.3423. In the event of a decline in the GBP/USD pair during the morning, I recommend that you return to buying after upgrading support at 1.3271 or immediately to rebound from 1.3225.

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

Sellers will try to form a false breakdown from the level of 1.3317, and the divergence on the MACD indicator will be an additional signal to increase short positions in the GBP/USD pair, which will lead to a larger decline in the support area of 1.3271. Breakdown and consolidation under this level will cause the decline of the pound that is already in the area of 1.3225, where I recommend locking in profits.

Indicator description

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