MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

GBP/USD: plan for the European session on December 26. Pound recovers after the Christmas holidays

To open long positions on GBP/USD you need:

The British pound gradually returned to the resistance level of 1.3000, a break above which can form a more powerful upward correction. Consolidating on this range will be a signal to open long positions in order to update the highs of 1.3074 and 1.3128, where I recommend taking profits. In case the pair is under pressure, the bulls will try to protect the support of 1.2930, but only the formation of a false breakout on it will be a signal to open long positions. For a more reliable scenario, purchases are best deferred until the lows 1.2879 and 1.2831 are updated.

To open short positions on GBP/USD you need:

Bears today need to return the pound to a support of 1.2930, however, only a breakout and consolidation below this range forms a new downward channel, which will lead to further trend preservation with the pair going to the low of 1.2879 and 1.2831, where I recommend taking profit. In the scenario of GBP/USD growth in the morning, short positions can be returned on a false breakout in the region of a high of 1.3000, or you can sell the pound immediately for a rebound from the resistance of 1.3074.

Signals of indicators:

Moving averages

Trading is carried out in the region of 30 and 50 moving average, which indicates the possible formation of an upward correction in the pair.

Bollinger bands

If the pound declines, support will be provided by the lower boundary of the indicator at 1.2920. A breakthrough of the upper boundary of the indicator in the area of 1.3000 will strengthen demand for the pound.

analytics5e043c381c33a.png

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
The material has been provided by InstaForex Company - www.instaforex.com