Forex Analysis & Reviews: Tips for beginner traders in EUR/USD and GBP/USD on August 12, 2022
time 12.08.2022 11:10 AM
time Relevance up to, 13.08.2022 09:44 AM

Details of the economic calendar for August 11

The US dollar accelerated its decline against competitors after the release of US producer prices data, which declined from 11.3% to 9.8% in annual terms. Month-on-month indicators reflected a drop of 0.5%.

At the same time, investors were disappointed by data on the US labor market, where an increase in the volume of applications for benefits was recorded, accelerating the sale of the dollar.

Statistics details:

The volume of continuing claims for benefits increased from 1.420 million to 1.428 million.

The volume of initial claims for benefits increased from 248,000 to 262,000.

Analysis of trading charts from August 11

The EURUSD currency pair, during the pullback, reached the upper limit of the previously passed flat 1.0150/1.0270, where there was a reduction in the volume of short positions. As a result, the market rebounded, and the buyers again managed to return the euro rate to the area of the local high of the current corrective move.

The GBPUSD currency pair, during the pullback, almost reached the level of 1.2155, around which there was a stagnation. The symbolic reduction in the volume of long positions indicated that upward interest still prevails among traders.

This image is no longer relevant

Economic calendar for August 12

Today, with the opening of European markets, UK GDP data for the second quarter was published, which recorded a slowdown in economic growth from 8.7% to 2.9%. In other words, the British economy is steadily slipping into recession, as the Bank of England recently warned.

In Europe, the publication of data on industrial production is not expected to be the best, the growth rate of which should slow down from 1.6% to 0.8%. This may negatively affect the euro exchange rate.

Time targeting:

EU Industrial production data – 09:00 UTC

This image is no longer relevant

Trading plan for EUR/USD on August 12

The upward trend is still relevant in the market. For this reason, holding the price above 1.0350 in a four-hour period will lead to the subsequent construction of a corrective move. If the forecast coincides, the euro exchange rate may gradually rise to 1.0500–1.0650.

The downward scenario will be considered by traders in case the price returns below the value of 1.0200 in a four-hour period.

This image is no longer relevant

Trading plan for GBP/USD on August 12

In this situation, a return of the price to the 1.2250/1.2300 area, followed by a hold above it, will lead to a prolonged upward cycle.

The downside scenario will become relevant when the price holds below 1.2150 in a four-hour period.

What is shown in the trading charts?

A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices.

Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market.

Circles and rectangles are highlighted examples where the price of the story unfolded. This color selection indicates horizontal lines that may put pressure on the quote in the future.

The up/down arrows are the reference points of the possible price direction in the future.


บทวิเคราะห์ของทาง InstaForex จะทำให้คุณทราบถึงแนวโน้มของตลาด! ในการที่เป็นลูกค้าของทาง InstaForex นั้นคุณจะได้รับการบริการเพื่อการซื้อขายอย่างเต็มประสิทธิภาพอย่างมากมาย

  • เทรดให้ดีแล้วคว้ารางวัล
    เติมเงินในบัญชีของคุณอย่างน้อย $500 สมัครเข้าร่วมการแข่งขัน และลุ้นรับรางวัลอุปกรณ์ติดต่อสื่อสารแบบพกพา
  • เฟอร์รารีจาก InstaForex
    เติมเงินในบัญชีของคุณอย่างน้อย $1,000
    F8 Tributo
  • Chancy Deposit
    ฝากเงินเข้าบัญชีของคุณด้วย $3,000 และรับรางวัล $1,000
  • โบนัส 100%
    โอกาสพิเศษของคุณในการรับโบนัส 100% จากเงินฝากของคุณ
  • โบนัส 55%
    สมัครรับโบนัส 55% สำหรับการฝากทุกครั้ง
  • โบนัส 30%
    รับโบนัส 30% ทุกครั้งที่คุณเติมเงินในบัญชีของคุณ

Recommended Stories

Trading tips for EUR/USD

EUR/USD formed a "double bottom" today during the European session. It is located at 1.0440, which is a good area for short positions. And since there is a three-wave pattern

Andrey Shevchenko 15:50 2022-12-07 UTC+2

EUR/USD Technical Analysis and Trading Tips for December 7, 2022

During today's Asian trading session, EUR/USD continued to decline, but having found support at 1.0448 (200 EMA on the 1-hour chart), it resumed growth at the beginning of the European

Jurij Tolin 14:27 2022-12-07 UTC+2

GBP/USD: trading plan for American session on December 7. GBP bears want to assert strength

In the morning review, I turned your attention to the level of 1.2146 and recommended making decision on market entry with this level in focus. Now let's take a look

Miroslaw Bawulski 13:16 2022-12-07 UTC+2

EUR/USD: trading plan for North American session on December 7, 2022. Overview of morning trading. EUR rebounds after GDP data release

In the morning, we focused on the mark of 1.0514 and considered entering the market from there. Let's take a look at the M5 chart to get a picture

Miroslaw Bawulski 13:14 2022-12-07 UTC+2

Trading tips for GBP/USD

Yesterday's trading plan in GBP/USD talked about decreasing the price by breaking the bullish structure within the three-wave (ABC) pattern. plan: Pound really went down during the US session, then

Andrey Shevchenko 11:06 2022-12-07 UTC+2

EUR/USD, GBP/USD: trading plan for beginners on December 7, 2022

Yesterday's macroeconomic calendar was bereft of any important releases from Europe, Britain, and the United States. In this regard, investors and traders were monitoring the information flow

Gven Podolsky 09:35 2022-12-07 UTC+2

GBP/USD trading plan for European session on December 7, 2022. COT report and overview of yesterday's trades. GBP extends correction

Yesterday, the pair formed a lot of good entry signals. Let's see what happened on the 5-minute chart. In my morning review, I mentioned the level of 1.2205 and recommended

Miroslaw Bawulski 08:03 2022-12-07 UTC+2

EUR/USD: plan for European session on December 7. COT report. EUR continues falling

Yesterday, traders received several signals to enter the market. Let us take a look at the 5-minute chart to figure out what happened. Earlier, I asked you to pay attention

Miroslaw Bawulski 07:57 2022-12-07 UTC+2

Trading plan for EURUSD on December 07, 2022

EURUSD dropped to the 1.0455 low intraday on Wednesday in line with our projection. Immediate short-term target potential remains in the 1.0400-20 zone before prices could develop a pullback rally

Oscar Ton 06:39 2022-12-07 UTC+2
ระบุคำถามไว้ได้ใน แชท.