Analysis of transactions in the EUR / USD pair
A buy signal appeared in the market yesterday. However, it had to be ignored on the first try because the MACD line, during that time, was in the overbought area. It was only when the euro hit 1.1967 for the second time that the price jumped by 25 pips.
Trading recommendations for April 19
The euro failed to hit new highs last Friday, although its repeated test created another headache to bearish traders. But today, EUR / USD opened with a fall, which may lead to the formation of good sell signals within the day. The Bundesbank is also scheduled to release its monthly report, followed by the ECB’s current account balance. These secure a downward movement in the pair, or at least a sideways movement.
For long positions:
Enter a long position when the quote reaches 1.1975 (green line on the chart), and then take profit around the level of 1.2005. Good indicators in the Euro area will result in a strong upward movement in EUR / USD. It will also be affected by the balance sheet of the ECB. But before buying, make sure that the MACD line is above zero, or is starting to move up from it.
For short positions:
Enter a short position when the quote reaches 1.1945 (red line on the chart), and then take profit at the level of 1.1905. Weak data from the Euro area will lead in another downward movement in EUR / USD. But before selling, make sure that the MACD line is below zero or is starting to move down from it.
What’s on the chart:
The thin green line is the key level at which you can place long positions in the EUR / USD pair.
The thick green line is the target price, since the quote is unlikely to move above this level.
The thin red line is the level at which you can place short positions in the EUR / USD pair.
The thick red line is the target price, since the quote is unlikely to move below this level.
MACD line – when entering the market, it is important to be guided by the overbought and oversold zones.
Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.
And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader.
Analysis of transactions in the GBP / USD pair
A sell signal appeared in GBP / USD last Friday morning. It coincided with the MACD line going down from zero, so the price was able to decline quite sharply. Then, in the afternoon, a buy signal appeared, but the upward movement was limited because the MACD line was in the overbought area.
Trading recommendations for April 19
Pound traded upwards last Friday due to weaker-than-expected reports from the United States. But today, movement should be sideways because there are no important data expected to be published both from the UK and the US. Bearish traders will then take advantage of this, working to return the price back to Friday’s levels.
For long positions:
Enter a long position when the quote reaches 1.3850 (green line on the chart), and then take profit at the level of 1.3904 (thicker green line on the chart). Pound will trade higher if bullish traders manage to push the quote above 1.3850. Make sure that when you buy GBP, the MACD line is above zero or is starting to rise from it.
For short positions:
Enter a short position after the quote reaches 1.3809 (red line on the chart), and then take profit at the level of 1.3745. Pressure on the pound will return if bullish traders do not show activity in the area of new local highs today. When selling, make sure that the MACD line is below zero or is starting to move down from it.
What’s on the chart:
The thin green line is the key level at which you can place long positions in the GBP/USD pair.
The thick green line is the target price, since the quote is unlikely to move above this level.
The thin red line is the level at which you can place short positions in the GBP/USD pair.
The thick red line is the target price, since the quote is unlikely to move below this level.
MACD line – when entering the market, it is important to be guided by the overbought and oversold zones.
Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.
And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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