FX.co ★ Trading plan for the European session on November 29, 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 1.1879. This will lead to the renewal of the larger resistance level at 1.1915 with the main goal of reaching the maximum of the week at 1.1956, where it is recommended to lock in profits. The formation of a false breakout and a return to the level of 1.1839 will also be a good signal for buying the euro. Otherwise, opening new long positions is best after updating to 1.1807.

To open short positions on EURUSD, it is required:

A false breakout and a return to the level of 1.1879 will be the first signal for opening short positions with the purpose of a breakdown and consolidation below 1.1839. This will lead to a larger sale with the test at 1.1807 and the main target of exit at 1.1774, where it is recommended to lock in profits. In case of growth above 1.1879, it is important to pay attention to short positions after updating to 1.1915 or on a rebound from 1.1956.

GBP / USD

To open long positions on GBPUSD, it is required:

The consolidation above 1.3379 will be a good signal for opening long positions in the pound with the main target of exit at 1.3412 and an update to 1.3465, where it is recommended to lock in profits. In case of a pound drop in the morning, opening new long positions is best after upgrading to 1.3338 or on a rebound from 1.3300.

To open short positions on GBPUSD, it is required:

Only the repeated formation of a false breakout with a return at 1.3379 will be the a signal to open short positions on the pound. A break below the support level at 1.3338 could also lead to a larger sellout in the area of 1.3300 and 1.3267, where it is recommended to lock in profits. In case of growth above 1.3379, returning to short positions is best after a rebound from 1.3465.

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