Analysis of transactions in the EUR / USD pair
A sell 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 oversold area. It was only when the euro hit 1.1966 for the second time that the price dropped by 10 pips, although it moved back again right after. No other signals appeared for the rest of the day.
Trading recommendations for April 16
EUR / USD remained in a bull market even though the reports that were published yesterday were in favor of the United States. But today, the picture may change when the EU releases data on CPI and foreign trade balance. Weak performance will surely lead in another decline, which may escalate if the US publishes strong reports on construction, issued building permits and consumer sentiment in the afternoon.
For long positions:
Enter a long position when the quote reaches 1.1967 (green line on the chart), and then take profit around the level of 1.1994. Strong data from the Euro area will result in a strong upward movement in EUR / USD. 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 1.1948 (red line on the chart), and then take profit at the level of 1.1922. 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
Three buy signals appeared in the market yesterday. However, the first one had to be ignored because the MACD line, during that time, was in the overbought area. It was on the two tests of 1.3785 that the pound was able to move by 20 pips.
Trading recommendations for April 16
Pay attention to the upcoming statements from the Bank of England as it may result in another strengthening of the British pound. However, growth will not last long because in the afternoon, the US will release data on construction, issued building permits and consumer sentiment, which may lead in the rise of the US dollar, and accordingly, a decline in GBP / USD.
For long positions:
Enter a long position when the quote reaches 1.3772 (green line on the chart), and then take profit at the level of 1.3826 (thicker green line on the chart). Pound will trade higher if the bulls manage to push the quote above 1.3772. 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 1.3747 (red line on the chart), and then take profit at the level of 1.3702. 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.
If you have an interest in any area of Forex Trading, this is where you want to be.
Global Fx Trading Group is a world leader in providing Fx services to individual traders, including: Unmatched funding programs, on-line education, virtual trading rooms, automation tools, robot building, and personal coaching.
The company was first established by Jeff Wecker, former member of the Chicago Board of Trade, with 25 years in the industry. Jeff has a keen understanding of the needs of Forex traders and those needs are our focus.
Please join our VIP Group while is still FREE …
https://t.me/joinchat/JqsXFBKpyj3YS4bLWzT_rg
Our mission is simple: To enhance as many lives as we can through education and empowerment.
#theforexarmy #forexsigns #forexsignals #forexfamily #forexgroup #forexhelp #forexcourse #forextrade #forexdaily #forexmoney #forexentourage #forextrading #forex #forexhelptrading #forexscalping #babypips #forexfactory #forexlife #forextrader #financialfreedom
