FX.co ★ Trading plan for the European session on December 13, EUR / USD and GBP / USD

EUR / USD

To open long positions for EURUSD, it is required:

While the trade is above 1.1745, one can expect to return to the area of 1.1773. A consolidation at this level will lead to larger purchases of the euro with an update of 1.1809, where it is recommended to lock in profits. In the event of a return to the level of 1.1745 and the absence of a false breakdown on it, it is best to postpone opening long positions to a weekly low in the area of 1.1720.

To open short positions for EURUSD, it is required:

Only the formation of a false breakout at 1.1773 or a return with fixing under the support level of 1.1745 will allow the sellers of the euro to calculate for a decrease in the area of the weekly minimum of 1.1720, where it is recommended to lock in profits. In case of growth above 1.1773, selling the EUR / USD pair for a rebound is possible from 1.1809.

GBP / USD

To open long positions for GBPUSD, it is required:

You can consider opening long positions for the pound after fixing at the level of 1.3340. This will lead to further growth of the pair to area of 1.3376 with the main purpose of updating to 1.3425, where it is recommended to lock in profits. In case of a pound drop in the morning, it's best to go back to buying on a false breakout at 1.3304 or on a rebound from 1.3267.

To open short positions for GBPUSD, it is required:

The formation of a false breakout and a return at 1.3340 will be a good signal to open short positions for the pound with the goal of reducing to 1.3304. Fixing under this level will lead to a larger sale with an update to 1.3267 and 1.3224. In case of growth above 1.3340, it is possible to count on short positions from 1.3376.

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