Analysis of transactions in the EUR / USD pair
Two signals appeared in the market yesterday, but none of them was successful. This is because the buy signal appeared when the MACD line was in the overbought area, significantly limiting the upward potential of the euro. Likewise, the sell signal appeared when the MACD line was still above zero, so traders had to ignore it. No other signal appeared for the rest of the day.
Trading recommendations for May 25
Pay attention to the upcoming macro statistics as those will affect the market. Strong data from Germany will push the euro up, as will a weak figure on US consumer confidence.
For long positions:
Enter a long position when the quote reaches 1.2242 (green line on the chart), and then take profit around the level of 1.2281. Euro will trade upwards if Germany publishes strong economic reports. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Enter a short position when the quote reaches 1.2210 (red line on the chart), and then take profit at the level of 1.2126. Euro will decline if the EU releases weak economic reports. 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
Three signals appeared in the market yesterday, but only one of them was successful. This is because the first buy signal appeared when the MACD line was in the overbought area, significantly limiting the upward potential of the pound. But by afternoon, the MACD line finally moved up from zero, so the currency was able to climb by 15 pips. As for the sell signal that appeared in the middle of the day, it was also unsuccessful even though it happened when the MACD line was moving down from zero.
Trading recommendations for May 25
The Bank of England did not announce any changes on its monetary policy so the market remained calm yesterday. But today, it is important to pay attention to the upcoming macro statistics, as those will affect investor sentiment. Perhaps, the data on UK retail sales will not significantly affect the market, but the report on US consumer confidence will drive it. A decline on the indicator will put pressure on the US dollar, which in turn will lead to a rise in GBP / USD.
For long positions:
Enter a long position when the quote reaches 1.4189 (green line on the chart), and then take profit at the level of 1.4230 (thicker green line on the chart). Pound will trade upwards if the UK releases a strong retail sales report. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Enter a short position when the quote reaches 1.4162 (red line on the chart), and then take profit at the level of 1.4121. Pound will trade downwards as long as the quote remains below 1.4162. 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 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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