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

EUR / USD

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

It was possible to gain a foothold above the level of 1.2430 in the first half of the day, and now all buyers' attention will be focused on 1.2472, as the breakthrough of this level opens a good prospect for further growth of EUR / USD in the resistance area of 1.2533, where I recommend fixing the profits. In the case of a return under 1.2430, it is best to count on long positions after a second test of 1.2391.

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

The formation of a false breakout at 1.2472 or a return under 1.2430 will be good signals for the opening of short positions in the euro with the goal of returning to a minimum of the day in the area of 1.2391. In the case of further growth of the euro in the second half of the day above 1.2472, it is possible to open short positions for a rebound from 1.2533.

GBP / USD

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

Returning to the purchase of the British pound, I recommend only after consolidating above the level of 1.4240, which will allow to count on further growth with the update of 1.4341, where it is best to fix the profit. In case of a pound drop in the afternoon, consider long positions best at once on a rebound from 1.4165.

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

While the trade is below 1.4240, we can expect further decline in GBP / USD to the area of the larger support 1.41665 with a very likely update 1.4123, where I recommend fixing the profit. In the case of growth above 1.4240, it is possible to open new short positions immediately on the rebound from 1.4341.

Indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20