EURUSD, GBPUSD trading plan (14-09-2015).

1-Eu trading plan.

Buy signals above 1,124 towards 1,145, 1,162, and 1,1725. Sell signals under 1,113 towards 1,10 and 1,08.

We are still very much in a range (1,145 – 1,083) on the weekly chart. However, after a false bullish break out of the resistance, the pair renetered the range but seems to be reversing up inside it around 1,113 where the weekly 20 SMA is located. Should it move further up, weekly resistances are  at 1,145 (range resistance), 1,162 (weekly SMA55) and 1,1725 (last high).



On the daily chart, we see five bullish candles, with a confirmed bullish break out of the 200 SMA around 1,124. Friday candle is a clear bullish candle rising from that SMA. Above it, I will look to buy signals.

The first of those five bullish candles rise from the SMA100 -roughly 1,11-. This is the support I do not want to see broken in order to keep a bullish bias. Under it, I will rather look for selling signals towards 1,1 and the range support at 1,083.



2-GBPUSD trading plan.

Above 1,535, buy signals toward 1,557. Mind the 1,54 level, as it is a resistance/support level. Under 1,535, sell signals toward 1,52.

On the weekly chart the pair is going up, consolidating from a bearish move. It broke up a 23,6 fib line resistance around 1,52 even confirming it with a bullish engulfing candle; that consolidation may not be over. The next resistance fib line is the 38,2 around 1,557.  The current level (1,54) seems to be a support/resistance line.



On the daily chart, we notice a support level at 1,535 :the daily 200 SMA is located there, and we see several bounces from that level since January 2015. After breaking up that line as a resistance, the pair retested it this week and confirmed the break out with a bullish engulfing candle. therefroe I will look to buy above that  line, but I will try to sell under it to go back to the weekly fib line at 1,52.




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