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Forex Traiding

Simple guidelines for entering and exiting the market for novice traders. (analysis of forex transactions). Currency pairs EURUSD


Buy and sell levels of EURUSD on April 8th. Analysis of transactions Analysis of transactions Yesterday euro buyers once again waited for their moment and managed to take advantage of it. I advised buying euros at 1.1879. And although we did not immediately go up from this level, a similar scenario for Tuesday was implemented. The bulls tested the price of 1.1879 four times, and each time at the time of the test, the MACD indicator just started its upward movement from the zero mark, which confirmed the correct entry point to the market. The growth took place only from the fourth time, and the upward movement was about 30 points. We did not reach the target level, as the bullish momentum begins to gradually slow down. Today’s recommendations for entry and exit The data in the first half of the day on the indexes of business activity in the service sector of the eurozone countries retained a bullish momentum, however, buyers, as the day before, took a break, starting to be active only during the American session. The minutes of the meeting of the US Federal Reserve System did not surprise traders with anything, but once again reminded that the central bank will not rush to change its policy, which slightly reduced the appetite for risks. Today in the morning it is necessary to follow the reports on the producer price index of the eurozone, as well as the ECB minutes from the meeting on monetary policy. It is unlikely that the European regulator also hid something from investors, so the report will not lead to a surge in volatility. In the afternoon, attention will be drawn to the data on the number of initial claims for unemployment benefits in the United States and the speech of the Chairman of the Board of Governors Jerome Powell, which may strengthen the position of the US dollar against risky assets. Signal to buy Today, you can buy the euro when the price reaches 1.1879 (green line on the chart) with a target of growth to the level of 1.1923. At point 1.1923, I recommend exiting the market with a profit and selling the euro immediately in the opposite direction (expecting a movement of 10-15 points in the opposite direction from the level). The movement will depend on the data on the euro area and the minutes of the European Central Bank. Demand for the euro is expected to weaken, so be careful when buying at current highs. Important! Before buying, make sure that the MACD indicator is above zero and is just starting to rise from it. Sell ​​signal You can sell the euro after reaching the level of 1.1859 (red line on the chart). The target will be the level of 1.1827, where I recommend leaving the market and buying the euro immediately in the opposite direction (expecting a movement of 10-15 points in the opposite direction from the level). If the report on producer prices disappoints, it will be a reason to close long positions, which will lead to a decrease in the euro, the pressure on which may increase in the afternoon, which will fully win back the recent growth. Important! Before selling, make sure that the MACD indicator is below zero and just starting to decline from it. Recommend: EUR / USD: plan for the European session on April 8. Commitment of Traders COT reports (analysis of yesterday’s deals). The bulls failed to gain a foothold above 1.1893. Now you need to defend the level 1.1859 What is on the chart: The thin green line is the entry price at which you can buy a trading instrument. The thick green line is the estimated price where you can place Take profit or fix profits on your own, since further growth is unlikely above this level. The thin red line is the entry price at which the trading instrument can be sold. The thick red line is the estimated price where you can place Take profit or fix profits on your own, since further decline is unlikely below this level. MACD indicator. When entering the market, it is important to be guided by the overbought and oversold zones. Important. Novice forex traders need to be very careful when making decisions about entering the market. Before the release of important fundamental reports, it is best to stay out of the market in order to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the news release, 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, but trade large volumes. And remember that in order to trade successfully, you need to have a clear trading plan, like the one I presented above. Spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader. Buy and sell levels of GBPUSD on April 8th. Analysis of deals Analysis of deals On the British pound yesterday an excellent entry point to short positions was formed at the price of 1.3815. It was there that I advised to sell the pound with the aim of reducing to the support 1.3784, which happened. The chart shows how the 1.3815 price update coincided with the beginning of the downward movement of the MACD indicator from the zero mark, which confirmed the correct entry point for selling the pound. As a result: the downward movement was about 30 points. There was also a rise in the pound from the level of 1.3784 by the expected 20 points, which I also mentioned in yesterday’s forecast. Today’s recommendations for entry and exit Good data on activity in the UK services sector helped the buyers of the pound to escape the pressure from the sellers, but this did not last long. The data did not lead to a reversal of the downtrend, and the pressure on the pound returned in the afternoon. Today we need to pay attention to the report on the construction sector in the UK, although it is unlikely to have a serious impact on the pair. In the afternoon, attention will be drawn to the data on the number of initial applications for unemployment benefits in the United States and the speech of the chairman of the Board of Governors of the Federal Reserve, Jerome Powell, which may once again strengthen the position of the US dollar. Buy signal You can buy the pound today when it reaches the entry point in the area of ​​1.3774 (green line on the chart) with the aim of rising to the level of 1.3835 (thicker green line on the chart). In the area of ​​1.3835, I recommend exiting purchases and opening sales in the opposite direction (expecting a movement of 15-20 points in the opposite direction from the level). It will be possible to speak about the growth of the pound only after good fundamental data on the construction sector, but this is unlikely to lead to a reversal of the downtrend. Important! Before buying, make sure that the MACD indicator is above zero and just starting to rise from it. Signal to sell The pound can be sold today only after the level of 1.3742 (red line on the chart) has been updated, which will lead to a rapid decline in the pair. The key target of the sellers will be the level of 1.3676, where I recommend exiting the sales, as well as immediately opening purchases in the opposite direction (expecting a movement of 15-20 points in the opposite direction from the level). Pressure on the pound will return in the event of a weak reading on the UK construction PMI. It is best to trade the farthest with the trend. Important! Before selling, make sure that the MACD indicator is below zero and just starting to decline from it. Recommend: GBP / USD: plan for the European session on April 8. Commitment of Traders COT reports (analysis of yesterday’s deals). The British pound continues to storm, and volatility will not decrease in any way. The bears are aiming at the breakout of 1.3735 What’s on the chart: The thin green line is the entry price at which you can buy the trading instrument. The thick green line is the estimated price where you can place Take profit or fix profits on your own, since further growth is unlikely above this level. The thin red line is the entry price at which the trading instrument can be sold. The thick red line is the estimated price where you can place Take profit or fix profits on your own, since further decline is unlikely below this level. MACD indicator. When entering the market, it is important to be guided by the overbought and oversold zones. Important. Novice forex traders need to be very careful when making decisions about entering the market. Before the release of important fundamental reports, it is best to stay out of the market in order to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the news release, 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, but trade large volumes. And remember that in order to trade successfully, you need to have a clear trading plan, like the one I presented above. Spontaneous trading decisions based on the current market situation is an initially losing strategy for an intraday trader. – Source: InstaForex

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