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22.08.2017 03:31 AM
Trading plan for the US session on August 21 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, you need:

The trading plan did not change. I advise you to return to buying the euro only after successful attempts to consolidate above the level of 1.1754, which will open a good opportunity to update the upper border of the channel of 1.1792, where I recommend locking in the profit for today. In case the euro drops in the afternoon, you can turn to buying after a false breakdown of the level of 1.1726, or on a rebound from a larger support located at the lower border of the channel of 1.1681.

To open short positions for EURUSD, you need:

Sellers will count on the formation of a false breakdown at 1.1754 and a return to this level, which will lead to a new downward wave in the euro with an update of 1.1726 and an exit to the low of last week in the area of 1.1681. The growth of the euro above 1.1754 may be limited to a resistance of 1.1770. If there is no downward turn, then I advise you to postpone selling to a resistance of 1.1792.

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GBP/USD

To open long positions for GBPUSD, you need:

Buyers of the pound climbed above 1.2880, but I do not recommend returning to long positions until after a test of the above level, from top to bottom, with the peak volume of the day. If the volume is not present, then I recommend postponing further buying of the pound to a lower border of the channel of 1.2841.

To open short positions for GBPUSD, you need:

An unsuccessful attempt at growth and a return to the level of 1.2880 will be the first signal for opening short positions, but a more optimal level for selling will be located in the area of 1.2914. The main target for sellers is a return and consolidation below the level of 1.2880, which will keep the downside potential for the pair.

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Indicators

  • MA (average sliding) 50 days - yellow
  • MA (average 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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