FX.co ★ Trading plan for the US session on December 6 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, it is required:

Buyers have not been able to set up the euro from the level of 1.1816, the breakdown of which will lead to the renewal of 1.1774. This is where I recommend that you open new long positions for the euro in the afternoon. In case the false breakdown is formed after updating yesterday's lows, you can count on a repeated rebound of the EUR/USD pair in the resistance area of 1.1843.

To open short positions for EURUSD, it is required:

A break below 1.1816 will lead to a further decline in the European currency with a test of 1.1774 and a forecasted yield of 1.1737, where it is advised to lock in the profit for today. If after the update of the low of yesterday's morning quickly drops, the euro will not be considered. I advise that you postpone selling and wait for the EUR/USD pair to return to the resistance area of 1.1843.

GBP/USD

To open long positions for GBP/USD, it is required:

Buyers of the pound expected to show themselves in the support area of 1.3356, but a larger rebound upwards from this level has not yet been seen. Only a second test with the formation of a false breakout at 1.3356 will signal a rise in long positions in the pound for a return and consolidation above 1.3400, with an update of 1.3438. In the event of a decline below 1.3356, it's best to go back to a rebound from 1.2399 in order to buy.

To open short positions for GBP/USD, it is required:

A retest of 1.3356 may lead to a breakthrough of this level of support with a further decrease in the pound in the range of 1.3299, where it is advised to lock in profits. In the event of an unsuccessful consolidation below 1.3356, selling would be best done after the test of 1.3400 or on a rebound of 1.3438.

Indicator description

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