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10.08.2017 02:36 PM
Trading plan for the US session on August 10 EUR / USD and GBP / USD

EUR / USD

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

A larger downward movement towards the targets did not occur. I recommend going back to euro purchases only after exit and consolidation above 1.1734 with the main growth target to the upper border of the channel of 1.1769. The break of this level on weak US data will lead to an increase in long positions in euros with an update of 1.1811, where I recommend fixing profits. In the case of a decline in the euro in the afternoon, it is best to go back to buying after updating to 1.1690, or on a rebound from 1.1652.

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

Sellers need to hold the pair below 1.1734, and good fundamental data may lead to a larger euro decline to the 1.1690 morning support area. The breakthrough and consolidation below this level will open the way to 1.1652, where it is better to fix the profit. If the euro rises above 1.1734, I recommend sales after updating to 1.1769.

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GBP / USD

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

The British pound managed to grow on good fundamental data, and now buyers are close to the morning goal of 1.3004. The breakdown and consolidation above this level will be an additional signal to increase long positions in order to update to 1.3046. In the case of a pound drop in the afternoon, returning to buying is best after the formation of a false breakdown at 1.2955.

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

Sellers will try to form a false breakdown at level 1.3004, a return to which will be an additional signal to increase short positions in order to update to 1.2955 and reach a new low at 1.2901. If the pound is above 1.3004, I advise you to go back to sales after forming a false breakout at 1.3046.

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Indicators

MA (medium sliding) 50 days - yellow

MA (middle sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Maxim Magdalinin
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