FX.co ★ Trading plan for the US session on December 28 EUR/USD and GBP/USD

EUR/USD

To open long positions for EURUSD, it is required:

Buyers have not managed to take hold of 1.1932. At the moment, it is advised to only consider new long positions after a re-growth above the mentioned range, with the main key purpose of updating 1.1966, where it is recommended to lock in profits. In case the euro further declines, you can buy for a rebound in the area of 1.1902.

To open short positions for EURUSD, it is required:

A false breakout and a return below 1.1932 limited the upside potential in the euro. However, a larger selling after that did not follow. While the trade is below this level, we can expect a further decline in the EUR/USD pair towards the area of 1.1902 with the key target of 1.1866, where it is advised to lock in the profit.

GBP/USD

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

A return to opening long positions for the pound can only be considered after a breakdown and consolidation above the level of 1.3452, which opens a direct road to the weekly highs in the area of 1.3477 and 1.3514, where it is advised to lock in profits. In case the pound falls in the afternoon, you can consider new purchases at a rebound of 1.3422 or after updating a larger support of 1.3400.

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

While the trade is below 1.3452, we can expect a further decline in the GBP/USD pair with a return to 1.3422 and an update of 1.3400, where it is advised to lock in the profit. In case of growth above 1.3452, consider new short positions immediately on a rebound from 1.3514.

Indicator description

• Moving Average (average sliding) 50 days - yellow
• Moving Average (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA
• Bollinger Bands 20