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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 16. Analysis of deals Analysis of deals Low volatility before the release of important fundamental data on the US economy continued after the reports: all this led to the pair hanging in a narrow sideways channel. The signals that were formed throughout the day did not bring the expected profit, although there were all the prerequisites for the active movement of the pair. The first sell at 1.1966 should have been completely ignored, since the indicator was in the oversold area at the time of the signal formation. The second entry point for this level was already more correct, since the MACD indicator was just beginning to move down from the zero level. However, this did not lead to a large downward movement, and after a small drop by 10 points, the market reversed again. No other signals were generated. Today’s Entry and Exit Recommendations Neither the CPI reports of France, Germany and Italy, which matched economists’ forecasts, nor the strong data on the change in the volume of retail trade in the United States and the number of initial claims for unemployment benefits, all this did not affect the American the dollar, which stubbornly did not want to strengthen its positions against the European currency. It is quite possible that traders will change their minds today, especially after the release of data on the Eurozone consumer price index and the foreign trade balance. If this does not make an impression, then it is necessary to wait for the decisions that can be taken regarding the EU Stabilization Fund during the meeting of the Eurogroup and the Eurozone finance ministers. In the afternoon, data on the volume of building permits issued in the US and the number of new foundations are expected to be released, as well as the consumer sentiment index from the University of Michigan, which may lead to a strengthening of the US dollar. Signal to buy Today, you can buy the euro when the price reaches 1.1967 (green line on the chart) with the aim of rising to the level of 1.1994. At point 1.1994, 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 inflation in the euro area and only very good indicators will be able to strengthen the euro in the area of ​​new highs of the month. Important! Before buying, make sure that the MACD indicator is above zero and just starting to rise from it. Sell ​​signal You can sell the euro after reaching the level of 1.1948 (red line on the chart). The target will be the level of 1.1922, 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). On the contrary, weak data on the euro zone will undermine investor confidence in the strength of the euro, especially after yesterday’s reports on the volume of retail sales in the United States. Important! Before selling, make sure that the MACD indicator is below zero and just starting to decline from it. EUR / USD: plan for the European session on April 16. Commitment of Traders COT reports (analysis of yesterday’s deals). Traders are in no hurry to sell the euro, ignoring the strong US statistics. The bears are at the level 1.1946 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 16. Analysis of deals Analysis of deals Yesterday three signals to buy the British pound were formed at once, but one of them, which was formed at the very beginning, had to be ignored. In the first half of the day, the price update 1.3785, where I advised to buy the pound, occurred at the moment when the MACD indicator was in the overbought area, so it was impossible to enter the market. But after a while, two repeated tests of this range happened as needed: the MACD indicator was in the area of ​​the zero mark and began to grow up. But each time the movement was about 20 points and that was the end of it. Today’s recommendations for entry and exit The pound remains in a narrow sideways channel and the new trend will depend on which side it takes. In the first half of the day, important statistics on the UK are not expected, so traders will focus on the speech of the Deputy Governor of the Bank of England for Financial Stability John Cunliffe, which may lead to the strengthening of the pair. In the afternoon, data on the volume of building permits issued in the US and the number of new foundations are expected to be released, as well as the consumer sentiment index from the University of Michigan, which may lead to the strengthening of the US dollar. Buy signal You can buy the pound today when it reaches the entry point in the area of ​​1.3772 (green line on the chart) with the aim of rising to the level of 1.3826 (thicker green line on the chart). In the area of ​​1.3826, 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 the breakout of the large level of 1.3772. Important! Before buying, make sure that the MACD indicator is above zero and just starting to rise from it. Selling signal Selling the pound today is possible only after the level of 1.3747 (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 1.3702, where I recommend exiting the sales, as well as immediately opening purchases in the opposite direction (counting on a movement of 15-20 points in the opposite direction from the level). The pressure on the pound may return at any moment, especially considering what strong fundamental data have recently been released on the American economy. Important! Before selling, make sure that the MACD indicator is below zero and just starting to decline from it. GBP / USD: plan for the European session on April 16. Commitment of Traders COT reports (analysis of yesterday’s deals). Buyers of the pound did not cope with the level of 1.3804, so the pressure on the pair can return at any moment What is on the chart: 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. – Source: InstaForex

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