Analysis of transactions in the EUR/USD pair
Several trading signals appeared for EUR/USD yesterday. However, all of them did not bring the expected profit even though the MACD line was in a correct zone. To be more specific, every time the euro hit 1.1771, the MACD line was at zero. But the largest movement was only 10 pips.
Trading recommendations for March 30
Many are expecting EUR/USD to decline today amid reports on German imports and consumer price index. But if these indicators show good growth, demand for the euro may rise instead. Then, in the afternoon, data on US consumer confidence will be released, which will most likely add more strength to the US dollar.
For long positions:
Enter a long position when the quote reaches 1.1775 (green line on the chart), and then take profit around the level of 1.1805. Good reports on the Euro area will lead to a sharp increase in the euro, thereby forming a good upward correction.
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 1.1760 (red line on the chart), and then take profit at the level of 1.1725.
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
A buy signal appeared in the market yesterday. However, it had to be ignored because the MACD line, during that time, was in the overbought zone. Volatility was also low, so what happened is that the price, although increased a bit in the morning, fell back to its previous levels in the afternoon.
Trading recommendations for March 30
Contrary to what was expected, data on UK money supply and mortgage loan applications did not have a serious impact on the market. But today, GBP/USD may begin trading downwards if the report on US consumer confidence comes out better than the forecast.
For long positions:
Enter a long position when the quote reaches 1.3795 (green line on the chart), and then take profit at the level of 1.3864 (thicker green line on the chart). Price will increase higher if the pound consolidates above 1.3805.
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 1.3756 (red line on the chart), and then take profit at the level of 1.3707. But there is no rush to sell now as the fast recovery of the UK economy is bringing demand back for risk assets. Only a strong US data will resume pressure on 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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