FX.co ★ Trading plan for the European session on November 28 EUR / USD and GBP / USD

EUR / USD

To open long positions on EURUSD, it is required:

Consider opening new long positions after the breakdown and consolidation above 1.1921, which will lead to the update of yesterday's highs around 1.1956 with an exit at 1.1981, where it is recommended to lock in profits. In case of a decline in the euro in the morning below 1.1891, it is recommended to return to buying only after the test at 1.1854, or on a rebound from 1.1812.

To open short positions on EURUSD, it is required:

A false breakout and a return to level 1.1921 will be the first signal for opening short positions with the purpose of breakdown and consolidation below 1.1891. This will lead to a larger sale with the test at 1.1854 and the main target of exit at 1.1812, where it is recommended to lock in profits. In case of growth above 1.1921, consider opening short positions after updating to 1.1956 and 1.1981.

GBP / USD

To open long positions on GBPUSD, it is required:

The fastening above 1.3345 or the formation of a false breakout at 1.3316 will be the first signal to open long positions in the pound with the main target of the exit at 1.3379. The larger upward movement to the level of 1.3412 will depend on the statements of the head of the Bank of England. In case of a drop in the pound in the morning, opening new long positions is best after updating to 1.3280 or on a rebound from 1.3257.

To open short positions on GBPUSD, it is required:

The fastening below 1.3316 could push the pound into the support area of 1.3280. The key target of sellers will be an update to 1.3257. In case of a false breakdown at 1.3316, it is best to return to short positions after updating to 1.3345 or on a rebound from 1.3379.

Indicator description

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20