Analysis of transactions in the EUR / USD pair
A sell signal appeared at 1.2081 yesterday. However, it did not lead to a strong downward movement because the MACD line, during that time, was in a negative zone, which indicates that the pair is oversold.
Trading recommendations for February 18
Recent reports increased pressure on the euro, thereby forming a new downward wave in EUR / USD. Today, this decline is expected to continue, especially since the European Central Bank will announce their decision on monetary policy, and the US will publish its latest report on jobless claims and issued building permits. Consumer confidence in the EU is also expected to be revised downward, putting more pressure on the pair.
For long positions:
Buy the euro when the quote reaches 1.2063 (green line on the chart), and then take profit around the level of 1.2110. However, there is a low chance that EUR / USD will rally, since recent reports from the US were better than expected.
Nonetheless, 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 1.2026 (red line on the chart), and then take profit at the level of 1.1990. Pressure on the euro may return at any moment, especially amid good economic data from the US.
But 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
Three signals appeared on the market yesterday, however, only one was successful and profitable. The first two signals at 1.3871 had to be ignored, mainly because the MACD line, at that time, was in the oversold zone, which limited the pair’s downward potential. Only the third test formed a convenient level for selling, and it brought approximately 40 pips of profit.
Trading recommendations for February 18
The latest data on UK inflation kept GBP / USD afloat, but the reports from the US that followed led to a new wave of decline. But nevertheless, trend is still bullish, so traders can still anticipate an increase today. In the afternoon though, the US will release data on jobless claims, and it may lead to a strengthening of the US dollar.
For long positions:
Buy the pound when the quote reaches 1.3863 (green line on the chart), and then take profit at the level of 1.3932 (thicker green line on the chart). The market is one step away from a sharp collapse.
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 1.3833 (red line on the chart), and then take profit at the level of 1.3786. A break below this level will form a new downward trend.
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.
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