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13.07.2017 08:11 AM
Trading plan in the US session on July 12 EUR/USD and GBP/USD

EUR / USD

To open a long position on EURUSD it is required:

Market direction will depend on the statements made by Janet Yellen in the afternoon. If you will return and consolidate at the level of 1.1468, I advise you to add to long positions in euros, with the main purpose of a break above 1.1493 and update at 1.1523 and 1.1558. In case of a re-test at 1.1440, which renewed the demand for the euro, it is better to postpone buying until a larger support of 1.1400 is updated.

To open a short position on EURUSD it is required:

Sellers can declare themselves only after an unsuccessful attempt to consolidate above 1.1468 and return to this level or after a re-test of 1.440.

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GBP / USD

To open a long position on GBPUSD it is required:

Securing above a level of 1.2863 is a good signal to raise long positions in the British pound, with the aim of further growth in the level of 1.2917 and an exit at 1.2953. In case of renewed pressure on the British pound after Yellen's speech, I recommend postponing buying to a level of 1.2817 or open new long positions only for a rebound from a large support of 1.2761.

To open a short position on GBPUSD it is required:

Sellers can return after an unsuccessful attempt to consolidate above 1.2863, which will lead to a repeated downward movement in the pair to a support level of 1.2817. In case of a breakthrough of 1.2863, I recommend selling to be postponed to a resistance level of 1.2917 or return to short positions immediately to rebound from a resistance of 1.2953. Breakthrough and consolidation below the level of 1.2817 will open a direct path to support the pound at a level of 1.2761.

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Indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: a fast EMA 12, Slow EMA 26, SMA
  • Bollinger Bands 20
Summary
Urgency
Analytic
Maxim Magdalinin
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