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08.08.2017 02:34 PM
Trading plan for the US session on August 8 EUR / USD and GBP / USD

EUR / USD

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

For the pair EUR / USD, the alignment of forces did not change in any way. While the trade is above 1.1791, there is a real chance of continued growth towards 1.1839. In case of a return to 1.1791, one can see the formation of a false breakdown from this level, 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 EUR/USD, 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. If the euro rises in the second half of the day, sales can be viewed from the level of 1.1839, provided there is a false breakdown there.

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GBP / USD

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

Buyers missed the level of 1.3037, and now I recommend long positions only after rising above 1.3037 with the main purpose of updating yesterday's high at 1.3059 and test 1.3086, where I recommend fixing profit. In the case of a further downward trend, it is better to go back to buying pound for a rebound from the large support of 1.2991.

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

According to the morning plan, while the trade is below 1.3037, we can expect further decrease of the pound to the level of 1.2991. In the case of a return to 1.3037, I recommend that you leave the sales and wait for the update of the larger resistance of 1.3086, as it is possible that the trade will hang in channel 1.3015-13055 today.

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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

Summary
Urgency
Analytic
Maxim Magdalinin
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