Stay 
Trading Conditions
Products
Tools
Analysis of transactions in the EUR / USD pair
Two sell signals appeared in the market on Tuesday, but both did not result in a massive decline. In fact, the first one had to be ignored because it came when the MACD line was at the oversold area. Meanwhile, the second signal appeared when the MACD line was moving down from zero, but the decrease that happened was only about 11 pips. Then, the buy signal that followed had to be ignored as well because the MACD line was at the overbought area.
Trading recommendations for June 23
Demand for euro may grow today if PMI reports on the Eurozone turn out stronger than the forecasts. But in the afternoon, price may pull back, if similar indicators for US also show better-than-expected figures.
For long positions:
Open a long position when euro reaches 1.1945 (green line on the chart), and then take profit around the level of 1.1991. Strong PMI reports in the Eurozone may set off a rally. 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 1.1916 (red line on the chart), and then take profit at the level of 1.1856. Pressure will return on the pair if the Eurozone releases weak economic reports. A massive drop may also occur after the Fed press conference, provided that the statements of Jerome Powell bring demand back to dollar. 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 Tuesday, but all of them had to be ignored because they came when the MACD line was not in a good area. But today, there may be active purchases in pound, so GBP / USD will most likely rise in price. In that case, long positions are the most ideal in the market.
Trading recommendations for June 23
Demand for pound will soar if UK releases good reports on manufacturing and services PMI. Strong data will lead to a rally, while weaker-than-expected figures will result in another decline. Then, in the afternoon, similar indicators will be released from US, which, if turns out better than the forecasts, may force pound bulls to close positions, which will accordingly lead to a downward correction in GBP / USD.
For long positions:
Open a long position when pound reaches 1.3992 (green line on the chart), and then take profit at the level of 1.4084 (thicker green line on the chart). Good data on UK PMI may push the currency to rise. 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 1.3936 (red line on the chart), and then take profit at the level of 1.3834. The currency will fall if there is bad data on the UK economy. 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.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
