Trading recommendations for EUR / USD on September 14
Analysis of transactions
Good data on US inflation rose dollar demand in the market, which resulted in fairly big sell-offs in the EUR / USD pair. It also prompt long positions to not bring significant profit, since the upward movement from 1.1841 was no more than 30 points.
Today, only a minor report on the volume of industrial production in the eurozone will be released, and it will not have a significant impact on the market. The balance that GBP / USD now has may also be maintained, so bulls should count on another attempt to rise above the resistance level of 1.1859.
Set long positions from 1.1859 (green line on the chart), and take profit at the level of 1.1916. Strong data on the eurozone manufacturing sector will give confidence to euro bulls. Sell shorts from 1.1825 (red line on the chart), and take profit around the level of 1.1789. Such will lead to a breakout from a fairly important level, which will lead to a rapid decline to the area of last week’s lows.
Trading recommendations for GBP / USD on September 14
Analysis of transactions
Good data on UK GDP prevented another huge sell-off in the GBP / USD pair. However, on Friday, every after the test of 1.2807, the pair still went down 25-30 points.
No important statistics is scheduled for release today, so attention will be set on updates on trade relations between the EU and the UK. But since the risk of a complete rupture only increases every day, it is best to bet on the fall of the pound.
Set long positions from 1.2845 (green line on the chart), and take profit at the level of 1.2920. Sell shorts from 1.2801 (red line on the chart), and take profit at the level of 1.2744.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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