empty
 
 
21.02.2018 03:00 AM
Trading plan for the US session on February 20 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, it is required:

You can consider buying the euro after a return and the consolidation at 1.2356, which will allow you to count on the renewal of the area of 1.2388 and the outflow to the daily highs in the area of 1.2419. In the event of a further decline in the euro, you can consider buying after updating support at 1.2319 or immediately to a rebound from 1.2279.

To open short positions for EURUSD, it is required:

While the trade is below 1.2356, the pressure on the euro will continue, which could lead to the next support level of 1.2319. However, the key target of the sellers will continue to be the area of 1.2279, where I recommend locking in the profit. If the euro rises above 1.2356, you can sell immediately for a rebound from 1.2388.

This image is no longer relevant

GBP/USD

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

The level of 1.3938 worked perfectly for purchases and now you can increase long positions for the pound after a re-exit above 1.3988, which opens the highs of the day around 1.4033 and 1.4082, where I advise locking in profits. In case of a repeated return of the GBP/USD to the support area of 1.3938, I recommend that you postpone buying until an upgrade of 1.3890.

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

While the trade is below 1.3988, the pressure on the pound will be maintained, which may lead to a retest of 1.3938 and also the breakdown of this level. Below are the prospects for access to support at 1.3890, where I recommend locking in profits. In case of growth above 1.3988, sales are best returned after the test 1.4033 or on the rebound from 1.4082.

This image is no longer relevant

Indicator description

  • Moving Average (average sliding) 50 days - yellow
  • Moving Average (average sliding) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA
  • Bollinger Bands 20
Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
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 $1000 more!
    In April we raffle $1000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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