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Analytics and trading signals for beginners. How to trade the EUR / USD currency pair on April 9? Analysis of Thursday’s deals. Preparation


Analysis of trades on Thursday: 30M chart of the EUR / USD pair. The EUR / USD currency pair was trading higher on Thursday. But before resuming the upward movement, the quotes of the pair traded exclusively sideways for about half a day. Thus, from yesterday’s high near the level of 1.1912, the price has corrected down by 52 points. Not much, but not too little. The main thing is that the MACD indicator managed to discharge to the zero level and formed a strong buy signal today, which is circled in the illustration. In fact, the MACD indicator formed a buy signal even earlier, but it was still at night, so naturally it should not have been worked out. But the daily buy signal allowed to open long positions at the level of 1.1880. After that, the price went up another 40 pips and broke the 1.1912 level on the first try. Thus, novice traders could fix profits around the level of 1.1912, 30-40 points at Take Profit, or even leave longs open, since the level of 1.1912 was overcome, respectively, the price could continue to move up. For the third option, Stop Loss should now be set below the level of 1.1912 in case a downward rollback begins at night. In the first two cases, congratulations on your profit. No important reports were published during the day. Only about an hour ago, the speech of the FRS Chairman Jerome Powell began, which “helped” the US dollar to continue its fall, which continued the entire American trading session. 5M chart of the EUR / USD pair. Now let’s take a look at the 5 minute timeframe. A couple of signals were also formed here during the day. The level 1.1878, from which a rebound was made at the beginning of the European session, very quickly ceased to be relevant, as the price crossed it several times during the day. And we have plotted the level 1.1893 on the chart only now, it was not there during the day. Thus, two false morning signals could have brought novice traders about 15 points of loss. But from the level of 1.3864 (now we have transformed it into 1.3862), a fairly clear rebound was made and, as a result, a rather strong buy signal. Recall that at that time the level of 1.1878 was no longer relevant, and the level of 1.1893 was not yet on the chart. Thus, the closest target for long positions was the level of 1.1912, which was eventually worked out, and the deal would have brought newcomers about 43 points of profit. However, this trade coincided by 90% with a trade on a 30-minute timeframe, so they should not be duplicated. In total, for today, thus, novice traders could earn 20-25 points. How to trade on Friday: On Friday, we recommend trading on the 30-minute buy timeframe, as the upward trend continues at the moment. A new uptrend line has been built, which cannot be called strong, but, nevertheless, it is. The MACD indicator is currently very high, therefore, in order to re-form new and strong buy signals, it needs to be discharged to the zero level. Thus, in any case, you need to wait for its discharge. It can happen just during the night. Also, novice traders can open a buy order to overcome the level of 1.1912. In this case, the trade should be left overnight with a Stop Loss below the level of 1.1912. Take Profit, as before, is set at a distance of 30-40 points. Stop Loss – to breakeven when the price passes in the right direction by 15-20 points. On a 5-minute timeframe, levels 1.1893, 1.1912, 1.1927 and 1.1937 can be distinguished, from which rebounds or breakdowns can occur. As before, the main thing is that the signal is clear. If the signal is not clear, then it is better not to enter the market. Macroeconomic statistics will not be available in the United States or the European Union tomorrow. What’s on the charts: Price levels of support and resistance are levels that are targets when buying or selling. You can place Take Profit levels near them. Red lines – channels or trend lines that display the current trend and show which direction it is preferable to trade now. MACD indicator (14,22,3) – a histogram and a signal line, the crossing of which are signals to enter the market. It is recommended to use in combination with trend plots (channels, trend lines). Important speeches and reports (always contained in the news calendar) can greatly influence the movement of a currency pair. Therefore, during their exit, it is recommended to trade as carefully as possible or exit the market in order to avoid a sharp price reversal against the previous movement. Beginners in the Forex market should remember that every trade cannot be profitable. The development of a clear strategy and money management are the key to success in trading over a long period of time. – Source: InstaForex

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