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Analysis of transactions in the EUR / USD pair
Even though the buy signal at 1.1898 appeared when the MACD line moved up from zero, the euro did not climb up because of poor economic reports from the EU. The same situation happened when a sell signal appeared at 1.1885.
But then, in the afternoon, another buy signal appeared 1.1898. This time, the euro moved by around 35 pips, hitting the target level of 1.1935. This compensated for all the losses earlier.
Trading recommendations for April 14
Although the weak data on business sentiment in both Germany and the whole Euro area halted the euro's rally, very few sellers were active in the market. As a result, after the slight decrease caused by the latest US CPI, price moved up again, resuming the bullish trend in EUR / USD.
Today, another set of important reports will be published from the EU, followed by statements from the European Central Bank and US Federal Reserve. All this may influence the overall situation in the market.
For long positions:
Enter a long position when the quote reaches 1.1972 (green line on the chart), and then take profit around the level of 1.2025. Strong data from the Euro area, as well as positive statements from the ECB, will result in a strong upward movement in EUR / USD.
But before buying, make sure that the MACD line is above zero, or is starting to move up from it.
For short positions:
Enter a short position when the quote reaches 1.1947 (red line on the chart), and then take profit at the level of 1.1895. Weak data from the Euro area will lead in another downward movement in EUR / USD.
But 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
Long positions set at 1.3746 brought good profit yesterday, as the signal coincided with the MACD line moving up from zero, thereby resulting in a 20-pip rise in the market. Then, two sell signals followed. However, every time the euro hit 1.3725, the MACD line was in the oversold area, so it was impossible to enter the market. And before the day ended, another buy signal appeared, but this time it did not bring the expected result.
Trading recommendations for April 14
Contrary to what was expected, the data on US CPI did not lead to a decline in EUR / USD. Instead, it strengthened the position of the euro, so now the bulls have a high chance of pushing the price even higher. But in the afternoon, there will be important statements from the Federal Reserve, which could affect the overall situation in the market.
For long positions:
Enter a long position when the quote reaches 1.3779 (green line on the chart), and then take profit at the level of 1.3830 (thicker green line on the chart). Pound will trade higher if the bulls manage to push the quote above 1.3779.
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 after the quote reaches 1.3748 (red line on the chart), and then take profit at the level of 1.3701. Pressure on the pound will return if the bulls fail to push the quote above 1.3779.
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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