Analysis of transactions in the EUR / USD pair
A sell signal appeared in the market yesterday. However, it was only when the euro hit 1.2041 for the second time that the price declined, although it was not as strong as expected because the downward movement of the MACD line was very strong, limiting the potential of the currency.
Trading recommendations for April 21
The euro may continue to drop today as there are no scheduled statistics nor Central Bank statements from both the EU and the US.
For long positions:
Enter a long position when the quote reaches 1.2045 (green line on the chart), and then take profit around the level of 1.2093. The euro may climb again if bullish traders manage to push the quote above 1.2045.
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 1.2020 (red line on the chart), and then take profit at the level of 1.1964. The bullish trend is now broken, so selling the euro is not as risky anymore as it was yesterday.
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
A sell signal appeared in the market yesterday. Fortunately, it coincided with the MACD line moving down from zero, so the pound was able to decrease by 40 pips. However, it did not reach the target value, and no other signals appeared the rest of the day.
Trading recommendations for April 21
Pay attention to the upcoming reports from the UK as they will determine in which direction the pound will go today. To be more specific, GBP / USD will trade upwards if UK CPI turns out to be better than expected. The market may also be affected by the statements from the Bank of England.
For long positions:
Enter a long position when the quote reaches 1.3952 (green line on the chart), and then take profit at the level of 1.4009 (thicker green line on the chart). Pound will trade higher if there are strong reports from the UK.
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 1.3918 (red line on the chart), and then take profit at the level of 1.3843. Pressure on the pound will continue if reports from the UK are worse than the forecasts.
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.
