FX.co ★ Trading plan for the European session on January 15, EUR / USD and GBP / USD

EUR / USD

To open long positions for EUR / USD, you need:

Consider new long positions for the euro, which is best after the correction in the support level 1.2199 with the formation of a false breakdown, or a rebound from 1.2160 with a view of returning to 1.2199 in the afternoon. A break and consolidation above 1.2235 will also be a good signal to buy the euro, with an expectation of updating the levels 1.2304 and 1.2342, where it is recommended to fix profits.

To open short positions for EURUSD, you need:

The formation of a false breakout at 1.2235 and a return to this level could lead to the correction of the euro in the morning towards the support area of 1.2199 and 1.2160, where it is recommended to fix profits. In case of further growth in the trend above 1.2235, consider new short positions most likely after testing the 1.2304 level or a rebound from 1.2342.

GBP / USD

To open long positions for GBP / USD, you need:

Consider new long positions for the pound most likely after a correction to the support level 1.3718, with the formation of a false breakdown or a rebound from 1.3681. This could lead to a reversal of the GBP / USD to the middle of the channel 1.3750. A break and consolidation above the level of 1.3764 will be a good signal to buy the pound in line with the expectations of updating the marks 1.3822 and 1.3894, where it is recommended to fix profits.

To open short positions for GBP / USD, you need:

The formation of a false breakout at 1.3764 will be the preliminary signal for the possible downward correction after the strong growth on Friday, updating the support levels 1.3718 and 1.3681, where it is recommended to fix profits. In case of further growth of the pound on the trend above 1.3764, it is recommended to open short positions only after updating 1.3822 or a rebound from 1.3849.

Indicators description

• MA (average sliding) 50 days - yellow
• MA (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20

To familiarize with the basic concepts and the general rules of my TS is possible here.

* The presented market analysis is informative and does not constitute a guide to the transaction.