Analysis of transactions in the EUR / USD pair
Euro continued to fall on Thursday, which formed a sell signal in the market. And fortunately, it came when the MACD line was going down from zero, so euro was able to drop by as much as 45 pips. It went to 1.1946, where a buy signal was formed. This pulled euro up by around 15 pips.
Trading recommendations for June 18
Pay attention to the upcoming reports on German PPI and account balance of ECB because those will influence the market today. A better-than-expected figure may push euro up, while weaker data will resume the decline in EUR / USD. Then, in the afternoon, there will be a meeting between finance ministers of EU countries, during which they will discuss issues with the provision of further financial assistance
For long positions:
Open a long position when euro reaches 1.1933 (green line on the chart), and then take profit around the level of 1.2005. Any rise in EUR / USD is going to be seen as a good opportunity to sell, so be careful when setting up transactions. And 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 1.1884 (red line on the chart), and then take profit at the level of 1.1817. Pressure will continue on the pair, and the breakout of yesterday’s lows will form a new wave of decline in the market. 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
Pound continued to decline on Thursday, which formed several sell signals in the market. However, the first one had to be ignored because it came when the MACD line was in an oversold area. Fortunately, on the second one, the MACD line had already moved below zero, so pound was able to go down by around 50 pips. It went to 1.3937, where a buy signal was formed. And with that, pound pulled back and rose 20 pips.
Trading recommendations for June 18
Pay attention to the upcoming report on UK retail sales as it could influence the market today. A better-than-expected figure may push pound up, while weaker data could resume the decline in GBP / USD. Then, in the afternoon, the closure of many positions may lead to a market correction.
For long positions:
Open a long position when pound reaches 1.3911 (green line on the chart), and then take profit at the level of 1.3981 (thicker green line on the chart). 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 1.3875 (red line on the chart), and then take profit at the level of 1.3826. 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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