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Analysis of transactions in the EUR / USD pair
Euro rose on Monday, thanks to strong industrial output in the Eurozone. It formed several buy signals in the market, but the first three had to be ignored because they came when the MACD line was at the overbought area. Only the fourth signal was successful because by that time, the MACD line was already moving up from zero. Euro climbed by about 12 pips.
Trading recommendations for June 15
Pay attention to the upcoming macro statistics as those will affect the market. For example, better-than-expected data on the Eurozone may lead to a rally, while a weak figure may set off another decline in euro. Weak reports from US may also push the currency up.
For long positions:
Open a long position when euro reaches 1.2135 (green line on the chart), and then take profit around the level of 1.2191. The currency will rise if the Euro area publishes good inflation data, and if the US releases weak economic reports. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Open a short position when euro reaches 1.2108 (red line on the chart), and then take profit at the level of 1.2070. Weak inflation data will push euro down. 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
Several signals appeared in the market on Monday, but only few were successful. The first sell signal had to be ignored because it came when the MACD line was at the oversold area. Meanwhile, the second signal was successful because by that time, the MACD line was already going down from zero. Pound declined by about 30 pips.
The subsequent buy signal was also successful and pushed pound up by 20 pips.
Trading recommendations for June 15
Pay attention to the upcoming reports on the UK labor market as those will affect investor sentiment. For example, better-than-expected data on jobless claims and unemployment rate may lead to a rally, while a weak figure may set off another decline in pound. Statements from the Bank of England may also affect the market.
Then, in the afternoon, pound has a chance of rallying, if the US releases weak reports on retail sales and industrial output.
For long positions:
Open a long position when pound reaches 1.4125 (green line on the chart), and then take profit at the level of 1.4163 (thicker green line on the chart). The currency will rise if UK publishes strong reports on the labor market. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.
For short positions:
Open a short position when pound reaches 1.4095 (red line on the chart), and then take profit at the level of 1.4056. Bad data on the UK labor market may put pressure on the currency. 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 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.
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