Analysis of transactions in the EUR / USD pair
Several signals appeared in the market yesterday. However, all of them had to be ignored because they did not coincide with the conditions necessary for opening positions. The buy signals appeared when the MACD line was at the overbought area, while the sell signals appeared when the MACD line was at the oversold area. Of course, traders could’ve opened short positions because the trend is bearish, but in the end they would just bring losses.
Trading recommendations for May 14
Pay attention to the upcoming US data today as those will certainly affect investor sentiment. Strong figures will lead to a rally in dollar and accordingly, a decline in euro. Unexpected announcements from the European Central Bank, for example an early curtailing of the bond purchase program, may shake the markets.
For long positions:
Enter a long position when the quote reaches 1.2101 (green line on the chart), and then take profit around the level of 1.2155. Euro will turn up if there are unexpected announcements from the ECB. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Enter a short position when the quote reaches 1.2061 (red line on the chart), and then take profit at the level of 1.1994. Euro will turn down if the US publishes a strong retail sales report. 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 sell signals appeared in the market yesterday. However, the first one was unsuccessful because it did not result in a strong decline even if the MACD line was at zero. Fortunately, the following two signals were more victorious, so the pound was able to move down by as much as 40 pips.
Trading recommendations for May 14
Pay attention to the upcoming US data today as those will significantly affect investor sentiment. Strong figures will lead to a rally in dollar and accordingly, a sharp decline in pound.
For long positions:
Enter a long position when the quote reaches 1.4063 (green line on the chart), and then take profit at the level of 1.4120 (thicker green line on the chart). There is very little chance though that the pound will trade upwards today. Nevertheless, before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Enter a short position when the quote reaches 1.4031 (red line on the chart), and then take profit at the level of 1.3981. Pound will trade downwards if the US publishes strong economic reports. 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.
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
