FX.co ★ Trading plan for the European session on 1 December EUR / USD and GBP / USD

EUR / USD

To open long positions on EURUSD, it is required:

While the trade is above the level of 1.1915, we can count on the continued growth of the euro to the area of 1.1956 and an update to the monthly maximum in the area of 1.1981, where it is recommended to lock in profits. In case of the euro returning to the level of 1.1915 in the first half of the day, it is best to consider opening new long positions after the formation of a false breakdown at 1.1887 or immediately on a rebound from 1.1841.

To open short positions on EURUSD, it is required:

A return to the level of 1.1915 could lead to an increase in pressure on the euro, which will form a downward correction wave in the support area of 1.1887. Consolidation below this level will lead to a larger sale with a test at 1.1841 and 1.1813, where it is recommended to lock in profits. In case of growth above 1.1956 in the morning, returning to short positions is best after updating to 1.1981.

GBP / USD

To open long positions on GBPUSD, it is required:

Fastening above 1.3545 will be a good signal for the opening of long positions in the pound with the main goal of reaching the level of 1.3590 and updating to 1.3648, where it is recommended to lock in profits. In case of a pound drop in the morning, consider opening new long positions after updating to 1.3487, when there is a false breakdown there, or on a rebound from 1.3432.

To open short positions on GBPUSD, it is required:

An unsuccessful attempt to grow above the level of 1.3545 with a return to this level will be the first signal for opening short positions on the pound in order to exit at 1.3487, where buyers will return to the market. Only a break below the support level of 1.3487 could lead to a larger sellout of the GBP / USD pair in the area of 1.3432 and 1.3377, where it is recommended to lock in profits. In case of growth above 1.3545, returning to short positions is best after updating to 1.3590 or on a rebound from 1.3648.

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