30.07.202008:41 Forex Analysis & Reviews: Analysis and trading recommendations for the EUR/USD and GBP/USD pairs on July 30

Trading recommendations for the EUR / USD pair on July 30

EUR / USD

Analysis of transactions

The movement of the quote towards the level of 1.1745 led to a good buy signal to the euro, which traders worked on during the American session, and gave a profit of about 50 points.

The two-day FOMC meeting, which was very important for the US dollar, did not lead to significant changes in the market yesterday, considering that no changes were made to the interest rates, which remains at its same level of 0.25%. Thus, in the near future, a rise in the US dollar is expected, followed by a drop on the euro in the trading chart.

• Open buy transactions when the quote reaches the level of 1.1786 (green line on the chart), targeting a rise to the level of 1.1825. The reports on unemployment rates for Germany and the eurozone, which will be published today, may lead to another wave of increase in the euro, as long as the data turn out to be positive. Take profit when the quote reaches the level of 1.1825.
• Open sell transactions when the quote reaches the level of 1.1750 (red line on the chart), targeting a drop to the level of 1.1703. Take profit at the level of 1.1703.

Trading recommendations for the GBP / USD pair on July 30

GBP / USD

Analysis of transactions

The buy signal for the pound, which occurred after the quote reached the level of 1.2938, gave about 40 pips of profit.

Important reports on the UK economy are lacking today, so the pound is not expected to continue to rise in the trading chart. Most likely, the demand for the US dollar will return, and the British pound will weaken and start to decline.

• Open buy transactions when the quote reaches the level of 1.2993 (green line on the chart), targeting a rise to the level of 1.3027 (thicker green line on the chart). Take profit when the quote reaches the value of 1.3027.
• Open sell transactions when the quote reaches the level of 1.2952 (red line on the chart), targeting a drop to the level of 1.2913. The decision of the Fed to maintain the interest rate at 0.25% could strengthen the US dollar, which in turn will weaken the British pound. Take profit when the quote reaches the level of 1.2913.