FX.co ★ Trading plan for the European session on December 27 EUR / USD and GBP / USD

EUR / USD

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

It is recommended to consider new purchases only after fixing above 1.1877 with the target of updating 1.1899 and reaching the weekly highs near 1.1932, where it is recommended fixing the profit. In case of a decline in the euro in the morning, new long positions can be seen on the rebound from the level of 1.1855 or immediately after the renewal of 1.1830 with the main goal of returning to the middle of the channel 1.1855.

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

The formation of a false breakout and the failure to consolidate above 1.1877 would be a good signal for opening short positions in EUR / USD with a view of reducing to the level of 1.1855 with further access to a much significant support range at 1.1830, where it is recommended to fix profits. The main goal of major sellers will be the update of 1.1792. If the euro rises above 1.1877 in the morning, a return to selling is preferred after the test of 1.1899 or on a rebound from 1.1932.

GBP / USD

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

Only a break and consolidation above the level of 1.3388 will allow buyers to consider a larger upward trend with an update of 1.3417 and a breakthrough to a new weekly high near 1.3447, where it is recommended to fix profits. If the pound drops below 1.3366, new long positions can be considered to rebound from 1.3335 or lower, from the lower border of the channel 1.3302.

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

False breakdown of 1.3388 or consolidation below 1.3366 will be a good signal for opening short positions in the pound with an update to 1.3335 and the release to the monthly lows around 1.3302, where it is recommended to fix profits. In case of growth above 1.3388, you can look for short positions for a rebound from 1.3417 or after updating 1.3447.

Fears of 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

To familiarize with the basic concepts and the general rules of my TS is possible here.

* The presented market analysis is informative and does not constitute a guide to the transaction.