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Analysis of transactions in the EUR / USD pair
Only one signal appeared in the euro yesterday. However, it had to be ignored because the MACD line was at the oversold area that time.
Trading recommendations for April 30
Pay attention to the upcoming reports on GDP and CPI in the Euro area as those will seriously affect the market. Weak figures could force traders to take profits, which will put pressure on the euro. Then in the afternoon, the US will publish data on spending, income and consumer sentiment. They may add more downward pressure on the euro, leading to a further decline in the market.
For long positions:
Enter a long position when the quote reaches 1.2134 (green line on the chart), and then take profit around the level of 1.2192. The euro will turn up if there are good reports on the Euro area.
When 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 1.2107 (red line on the chart), and then take profit at the level of 1.2056. Euro will trade downwards if the EU releases weak economic reports.
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
Due to low volatility, only one trading signal appeared in the pound. However, it had to be ignored because the MACD line was at the overbought area that time.
Trading recommendations for April 30
Pound may continue trading sideways today because the UK does not have any macro statistics to release. But in the afternoon, a decline may take place, when the US publishes reports on spending, income and consumer confidence. Good data on these indicators will increase the pressure on the pound and bring back demand for the US dollar.
For long positions:
Enter a long position when the quote reaches 1.3965 (green line on the chart), and then take profit at the level of 1.4025 (thicker green line on the chart). Pound has a high chance of trading upwards today because bullish traders managed to push the quote above the major resistance level. But make sure that when you buy GBP, the MACD line is above zero or is starting to rise from it.
For short positions:
Enter a short position when the quote reaches 1.3932 (red line on the chart), and then take profit at the level of 1.3864. Pound will trade downwards if the US releases strong economic reports. But when 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.
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