Trading plan for the European session on August 21 EUR / USD and GBP / USD

EUR / USD
To open long positions for EURUSD, it is required: I advise you to return to euro purchases only after a successful attempt to consolidate above 1.1754, which will open a good opportunity to update the upper border of the channel 1.1792, where I recommend today to fix the profit. In the case of a decline in the euro in the morning, you can see purchases after a false breakdown of the level of 1.1726, or on a rebound from the larger support, located at the lower border of the channel 1.1681. To open short positions for EURUSD it is required: Sellers will count on the formation of false breakdown 1.1754 and return to this level, which will lead to a new downward wave in the euro with the update 1.1726 and exit to the low of last week in the area of ​​1.1681. The growth of the euro above 1.1754 may be limited to resistance 1.1770. If there is no downward turn, then I advise you to postpone sales to resistance 1.1792.

GBP / USD
To open long positions for GBP / USD, it is required: I recommend to count on buying pound today after an unsuccessful attempt to update the low of last week in the area of ​​1.2841-1.2835. The return to 1.2841 will be an additional signal to increase long positions with the expectation of a test and consolidation above 1.2880, which will open a straight road already near the high of last week 1.2914, where I advise today to record profits. To open short positions for GBP / USD, you need: Count on the breakdown and consolidation below 1.2841-35 and do not recommend, as today there are no important fundamental data that could lead to the formation of a trend movement. An unsuccessful attempt at growth and a return to level 1.2880 will be the first signal for the opening of short positions, but a more optimal level for sales is located in the area of ​​1.2914.

 

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