Trading plan for the American session on 9 November, the EUR/USD and GBP/USD

EUR/USD

To open long positions on the EURUSD required:

The Euro was outside the upper boundary of the weekly channel. Stop at 1.1644 was quite expected. The breakthrough in the second half of the day above 1.1644 will lead to an increase in long positions with update 1.1687 where I recommend to take profit. In the case of the Euro, go back to shopping it is best to rebound from 1.1596.

To open short positions on EURUSD requires:

The formation of a false breakout and a failed attempt to consolidate above 1.1644 can return to the market of new sellers that will lead to a decline in EUR/USD to the area of support 1.1596. There I recommend to take profits on short positions. If growth is higher 1.1644, to sell the European currency can immediately rebound from 1.1687.

GBP/USD

To open long positions on GBPUSD is required:

The buyers did an amazing job on false breakdown of the support 1.3090 and returned to the level of 1.3124. Fixing it will give a good impetus to the rising trend in the pound and return to the upper border of the channel 1.3159 1.3178 and where I recommend to take profit. In the case of repeated weakness to 1.3090, purchase, recommend to defer until the updates 1.3068.

To open short positions on GBPUSD is required:

Consider selling after a failed attempt to consolidate and return to the level of 1.3124. The main goal will be down to 1.3090 with the breakdown and renewal of 1.3068, where it is better to close the short positions. In the case of growth above 1.3124, search for sale pound on the rebound from 1.3159.

Concerns indicators

  • MA (moving average) 50 days – yellow
  • MA (moving average) 30 days – green
  • MACD: fast EMA 12, slow EMA 26, SMA
  • Bollinger Bands 20

Familiarize yourself with the basic concepts and the General rules of my TS here.

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