Analysis of transactions in the EUR/USD pair
Volatility was very low last Friday, as a result of which there was only one trading signal for EUR/USD – to sell at 1.1762. However, it had to be ignored because the MACD line, during that time, was already in the oversold one. No other signals appeared the rest of the day. Volatility is expected to remain low today.
Trading recommendations for April 5
Although there was strong data from the US last weekend, EUR/USD did not rise much, indicating that traders took a wait and see attitude during the Easter holidays. And today, this low volatility is expected to continue, so the euro will most probably not undergo strong movements. In fact, even if there will be reports on US PMI and business activity in the afternoon, it is unlikely that the situation in the market will change.
For long positions:
Enter a long position when the quote reaches 1.1786 (green line on the chart), and then take profit around the level of 1.1821. But volatility should remain low today, so don’t expect strong movements in EUR/USD.
Keep in mind that before buying, the MACD line should be above zero and is starting to rise from it.
For short positions:
Enter a short position when the quote reaches 1.1752 (red line on the chart), and then take profit at the level of 1.1715. Strong US data will bring demand back for the dollar, which will result in EUR/USD dropping faster.
But before selling, be sure that the MACD line is below zero and 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
The market was calm last Friday, in which there was only one trading signal that appeared in GBP/USD – to sell at 1.3822. However, it had to be ignored because the MACD line, during that time, was in the oversold zone. Therefore, even if the price broke through 1.3822, the price returned to its previous level and closed around it.
Trading recommendations for April 5 Volatility will remain low today, so GBP/USD is not expected to undergo strong movements. And even if there will be reports on US PMI and business activity in the afternoon, it is unlikely that the situation in the market will change.
For long positions:
Enter a long position when the quote reaches 1.3849 (green line on the chart), and then take profit at the level of 1.3894 (thicker green line on the chart). Price will jump only if there is very weak data from the US.
Make sure that when you buy GBP, the MACD line is above zero and is starting to rise from it.
For short positions:
Enter a short position after the quote reaches 1.3813 (red line on the chart), and then take profit at the level of 1.3772. Strong US ISM report will support the dollar, thereby resulting in a decline in GBP/USD.
When selling, make sure that the MACD line is below zero and 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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