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14.08.2017 09:10 AM
Trading plan for the European session on August 14 EUR / USD and GBP / USD

EUR / USD

To open long positions for EUR/USD, you need:

Purchases can be considered subject to return and consolidation at 1.1829 with the main goal of reaching the new weekly maximum of 1.1874, where I recommend fixing profits. However, in the case of the formation of a divergence on the MACD indicator, after updating the Friday's maximum, I recommend going out of long positions earlier. In the case of a decline in the euro in the morning, I advise you to count on buying after upgrading to 1.1791 or on a rebound from 1.1750.

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

Another false breakdown and a return to the level of 1.1829 will serve as a good signal to increase short positions with the main purpose of an update to 1.1791. In the case of the euro rising above 1.1829, I recommend going back to sales only after updating the Friday's maximum with the formation of a divergence on the MACD indicator, or on a rebound from the larger resistance of 1.1874.

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GBP / USD

To open long positions for GBPUSD, it is required:

While trading is above the level of 1.3002, you can count on the continued growth of the pound for the purpose of updating to 1.3046 and 1.3086. In the case of a return at 1.3002, the last hope of buyers will be the average channel boundary of 1.2980, from where large players can enter the market again, putting on the growth of the pound. In the case of a larger fall in the morning, returning to buying a pound is best for a rebound from 1.2955.

To open short positions for GBPUSD, it is required:

Sellers will try to return the pair under 1.3002, and consolidation at this level will be a good signal to increase short positions with the purpose of updating to 1.2980 and a decrease to the weekly minimum of 1.2955-50. In the case of pound growth in the first half of the day, I recommend going back to sales only after forming a false breakdown at 1.3046 or to rebound from 1.3086.

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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 9

Bollinger Bands 20

Summary
Urgency
Analytic
Maxim Magdalinin
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