For Traders

Analytical Reviews

Trading plan

30.03.202309:05 Forex Analysis & Reviews: Trading plan for EUR/USD and GBP/USD on March 30

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The macroeconomic calendar was completely empty yesterday, pretty much the same as today. Sure, jobless claims data in the US is scheduled, but the changes should not be large as both initial and repeated claims are expected to increase by only 3,000. The same applies to GDP data, which should confirm earlier estimations that economic growth had slowed down from 1.9% to 0.9%. This fact has long been taken into account by the market, thus, there may be consolidation ahead of tomorrow's inflation data from the eurozone.

GDP (United States):

EUR/USD stopped moving after rallying for the past three days. The consolidation limits are 1.0820/1.0870. The current halt could be viewed as a sign of accumulation, which means that there could be a surge in volatility, especially when there is an exit beyond one or the other limits.

Although GBP/USD returned to 1.2300, the trend remains bullish. Thus, staying above 1.2350 will continue the upward spiral, in which the target level could be the high of the medium-term trend. In the case of a prolonged decline below 1.2300, the pair will see a complete correction.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.