FX.co ★ Trading plan for the US session on October 25 EUR / USD and GBP / USD

EUR / USD

To open long positions on EURUSD, it is required:

Buyers completed the plan in the morning and are now set to consolidate above 1.1790. Only after this will it be possible to count on a larger upward movement with the update of the key target for today in the area of 1.1823, where it is recommended to lock in profits. In case of unsuccessful growth above 1.1790, it is better to return to buying after the euro depreciates to the area of 1.1756.

To open short positions on EURUSD, it is required:

Sellers are working out the resistance level of 1.1790. The failure to secure above this level can lead to the closure of a number of long positions and a decrease in the euro to the support area of 1.1765 with the update at 1.1756 in the second half of the day. In case of growth above 1.1790, I recommend to go back to short positions on a rebound from 1.1823.

GBP / USD

To open long positions on GBPUSD, it is required:

Good data on GDP led to an increase in the British pound. At the moment, long positions are best after the decline and test of the intermediate level of support at 1.3217 or immediately on the rebound from 1.3177. The consolidation above 1.3268 will also be a good signal for further pound growth in the afternoon with an update to 1.3334.

To open short positions on GBPUSD, it is required:

I do not recommend selling the British pound today. Only a sharp rise above 1.3268 could lead to a resistance test at 1.3334, where profit taking on long positions will be observed. This may lead to a downward correction of the pound at 25-30 points to the 1.3300 area.

Indicator description

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20