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19.02.2018 09:41 AM
Trading plan for the European session on February 19 EUR / USD and GBP / USD

EUR / USD

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

Euro purchases are best seen after a false breakdown at 1.2397, during its second test in the European session, or after updating a larger support level of 1.2356. The break and consolidation above the level of 1.2424 could lead to the renewal of resistance 1.2458, where today, I recommend fixing the profits.

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

A break and consolidation below the level of 1.2397 will lead to a further sell-off of the European currency with an update of the support level in the 1.2356 area and the main target of the exit at 1.2325, where I recommend fixing the profit. The formation of a false breakout at 1.2424 will also be the first signal for the opening of short positions in the euro. Otherwise, you can immediately sell EUR / USD on a rebound from 1.2458.

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GBP / USD

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

While the trade is above the level of 1.4008, you can count on the recovery of the British pound in the area of resistance 1.4065. The anchorage on which will allow buyers to return to last week's highs in the area of 1.4129, where I recommend fixing the profits. In the case of a decline below the level of 1.4008, purchases are best considered after upgrading to 1.3949 and 1.3890.

To open short positions for GBP / USD, you need:

The formation of a false breakout at 1.4065, or fastening in the first half of the day at 1.4008, will be a good signal for the opening of new short positions in the pound, with a view to reducing to the first support in the area of 1.3949. The consolidation under which will lead to a stronger sellout of GBP / USD in the region of 1.3890, where I recommend fixing the profits. In the case of growth above the level of 1.4065, you can sell the pound immediately for a rebound from 1.4129.

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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 9

Bollinger Bands 20

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
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