Analysis of transactions in the EUR / USD pair
A signal to buy appeared in the market on Wednesday, but it had to be ignored because it came when the MACD line was at the overbought area. And even if bearish traders set up short positions, EUR / USD did not go down, causing losses to investors.
Trading recommendations for July 15
Despite the disappointing report on industrial production, euro continued to rise on Wednesday, as traders were skeptical about the latest statements of Fed Chairman Jerome Powell. In his speech, Powell hinted that the central bank will continue to adhere to a super-soft policy, which resulted in the weakening of the US dollar. Today, Italy will publish a report on CPI, but it is unlikely to affect the market very much. But the labor market data from US will be a driver for dollar growth, especially if the figure turns out much better than expected. There will also be another speech from Fed Chairman Jerome Powell, but it may not add a significant effect on the market.
For short positions:
Open a short position when euro reaches 1.1819 (red line on the chart), and then take profit at the level of 1.1773. A decline will occur if Italy releases a weak inflation data, and if US publishes a strong labor market report. But before selling, make sure that the MACD line is below zero, or is starting to move down from it. It is also possible to sell at 1.1838 and 1.1876, but the MACD indicator should be in the overbought area, as such would trigger a market reversal to 1.1819.
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
Several market signals appeared on Wednesday, but only one was successful. In fact, the first one, which was to buy, had to be ignored because it came when the MACD line was way above zero. Fortunately by afternoon, a signal to sell was formed, and it coincided with the MACD line being in the overbought area. Such led to a significant drop in GBP / USD.
Trading recommendations for July 15
Pound rose on Wednesday, thanks to better-than-expected data on UK inflation. And if the employment report today indicates another good performance, GBP / USD will surely continue its growth in the market. But in the afternoon, price may pull back slightly, if US releases a similar strong report on its labor market. There will also be another speech from Fed Chairman Jerome Powell, but it may not significantly affect the market.
For long positions:
Open a long position when pound reaches 1.3847 (green line on the chart), and then take profit at the level of 1.3890 (thicker green line on the chart). Demand will increase if UK releases strong growth in the labor market. But before buying, make sure that the MACD line is above zero, or is starting to rise from it. It is also possible to buy at 1.3825 and 1.3780, but the MACD indicator should be in the oversold area, as such would trigger a market reversal to 1.3847.
For short positions:
Open a short position when pound reaches 1.3825 (red line on the chart), and then take profit at the level of 1.3780. A decline may occur if UK releases weak data on employment. But before selling, make sure that the MACD line is below zero, or is starting to move down from it. It is also possible to sell at 1.3847 and 1.3890, but the MACD indicator should be in the overbought area, as such would trigger a market reversal to 1.3825.
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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