Analysis of transactions in the EUR / USD pair

A sell signal appeared in the market last Friday, however, it did not lead to a huge drop in EUR / USD even though the MACD line, at that time, was in the sell zone. To add to that, the position of the dollar weakened amid not-so-good data on the US economy, so the euro only dropped by 15 pips. There were no other signals for the rest of the day.

Trading recommendations for February 15

Weak data from the US led to a rise in EUR / USD. However, the quote still did not break above weekly highs due to rather low volatility. Today, there will be economic reports from the EU, but they are unlikely to affect the market since volatility will remain low amid President’s Day in the US. Strong market movements are not expected.

For long positions:

Buy the euro when the quote reaches 1.2145 (green line on the chart), and then take profit around the level of 1.2185. EUR / USD will rally if there are good economic reports from the EU.

But keep in mind that before buying, the MACD line should be above zero and is starting to rise from it.

For short positions:

Sell the euro after the quote reaches 1.2118 (red line on the chart), and then take profit at the level of 1.2076. Pressure on the euro may return at any moment, as the risk of a downward correction is still present, albeit less pronounced.

Of course, before selling, it is important to 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 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

Two signals emerged in the market last Friday. However, both of them had to be ignored since they turned out to be false. To add to that, the sell signal at 1.3784 only brought losses, even though the MACD line, during that time, was in the negative zone. Fortunately, it was offset by the buy signal at 1.3809, which emerged after the release of good UK GDP data. The test of this level, as well as the movement of the MACD line into the positive zone, allowed the pound to rise by over 45 pips.

Trading recommendations for February 15

GBP / USD traded upwards after the release of better-than-expected UK GDP. In fact, this bullish momentum continued during today’s Asian session, as a result of which price continued to climb up in the market. But in the afternoon, volatility will most probably drop, since today is President’s Day in the United States.

For long positions:

Buy the pound when the quote reaches 1.3907 (green line on the chart), and then take profit at the level of 1.3945 (thicker green line on the chart). Breaking above the 39th figure could lead to the removal of stop orders, which will only strengthen the position of the pound and open new highs for it.

But keep in mind that before buying, make sure that the MACD line is above zero and is starting to rise from it.

For short positions:

Sell the pound after the quote reaches 1.3881 (red line on the chart), and then take profit at the level of 1.3844. However, risks for short positions are quite high, and the drops are unlikely to be large.

Keep in mind that before 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.

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


Jeff Wecker
Jeff Wecker

Jeff Wecker, the inventor of Forex Forager, is a former member of the Chicago Board of Trade. There, Jeff learned his craft in the 30-year bond pit, trading against the world's best, and now has survived and prospered in the industry for the past 25 years. He took the unique knowledge he gained at the CBOT and transitioned it to online trading, where he traded FX, commodities, stock indices, and bonds – all using his unique 5 pip/tick risk system. Visit us at Global Fx Trading Group