empty
 
 
08.08.2017 09:42 AM
Trading plan for the European session on August 8 EUR / USD and GBP / USD

EUR / USD

To open long positions for EURUSD, it is required:

As long as the pair is above 1.1791, there is a real chance of continuing growth towards 1.1839. In case of a return to 1.1791, one can see the formation of a false breakdown from the level of 1.1785, with a return to 1.1791, which will be a very strong signal for the growth of long positions. The main goal is 1.1839, the breakdown and consolidation above this level will lead the euro to update to 1.1881 and indicate a reversal of the downward trend formed at the end of last week.

To open short positions for EURUSD, it is required:

Sellers will try to gain a foothold below the level of 1.1791, which will lead to the demolition of a number of stop-orders of buyers and further reduction of the euro to the support area of last week - 1.1741. A break below this level opens a good opportunity for further downward correction to 1.1671 and 1.1624. In case of euro growth in the first half of the day, sales can be viewed from the level of 1.1839, provided there is a false breakdown there.

This image is no longer relevant

GBP / USD

To open long positions in GBP / USD, the following is required:

A false breakout and a return to the level of 1.3037 will indicate a presence in the buyers market, which will maintain the upside potential for the pair with the purpose of updating to 1.3086, where I recommend fixing the profit. In the case of a decline under the level of 1.3037, I recommend buying pound to be postponed to a larger support of 1.2991.

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

Sellers can declare themselves after consolidation below 1.3037, and their main goal will be to reduce and update to 1.2991, where today I recommend fixing profit. In the case of a pound in the morning or a false breakdown of the level of 1.3037, it is best to return to sales after the test level of 1.3086 or on a rebound from 1.3140.

This image is no longer relevant

Indicators

MA (medium sliding) 50 days - yellow

MA (middle sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Maxim Magdalinin
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback