Analysis of transactions in the EUR / USD pair
The market signal on Tuesday was to sell, but it had to be ignored at first because it came when the MACD line was at the oversold area. Fortunately, the second one appeared at the time that the indicator was going down from zero, so EUR / USD was able to drop by more than 25 pips.
Trading recommendations for June 30
Euro fell on Tuesday amid weak reports on Eurozone consumer confidence and inflation in Germany. Then, in the afternoon, another decline occurred, when US published strong data on consumer confidence. Today, this downward movement could continue if Germany publishes disappointing report on employment and Eurozone releases weak data on consumer prices. A good performance on US employment may also set off another drop in EUR / USD, as such will most likely lead to higher demand in dollar.
For long positions:
Open a long position when euro reaches 1.1915 (green line on the chart), and then take profit around the level of 1.1974. EUR / USD will rise if there is a serious acceleration of inflationary pressures, as such could force the European Central Bank to reconsider tightening the monetary policy. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Open a short position when euro reaches 1.1889 (red line on the chart), and then take profit at the level of 1.1850. Further decline will occur if the Eurozone releases weak data on inflation. 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 the market on Tuesday. However, the situation was quite risky because the MACD line, at that time, dropped much lower than it should have. Nevertheless, GBP / USD still moved down, first by around 30 pips, and then close to 1.3815, which is the target level.
Trading recommendations for June 30
The statements made by Bank of England chief economist Andy Haldane did not help pound to rally, nor did the data on M4 money supply and approved applications for a mortgage loan. But despite that, bullish traders remain hopeful because today, UK will release the latest data on GDP, which may exceed the forecasts of analysts. If this happens, bearish traders will retreat from the market, which will lead to a rise in GBP / USD. But in the afternoon, pound could drop again, when ADP publishes its report on US employment. A good performance in the indicator will lead to a rise in dollar, which will accordingly result in a decline in GBP / USD.
For long positions:
Open a long position when pound reaches 1.3865 (green line on the chart), and then take profit at the level of 1.3922 (thicker green line on the chart). Growth may occur if UK releases good data on GDP. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Open a short position when pound reaches 1.3835 (red line on the chart), and then take profit at the level of 1.3780. GBP / USD will come under pressure if UK releases weak GDP data. 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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