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

Buy and sell levels EURUSD on April 26th. Analysis of transactions

Analysis of transactions

Strong data on activity in the eurozone countries set the direction of the euro for the whole day. As a result, a good buy signal was formed at the price of 1.2031, which I indicated in my forecast. It is clearly seen how the test of the price of 1.2031 occurs at the moment when the MACD indicator is in the area of ​​the zero mark, which leads to the formation of a good entry point for buying the euro. Those who managed to sit out all the movement in the market managed to wait for the test of the target level 1.2093 and take about 60 points. However, many could have exited much earlier – in the areas of 1.2060 and 1.2075, where the upward movement stopped.

Today’s guidelines for getting in and out

Friday’s manufacturing PMI data for France, Italy and the eurozone as a whole provided good support for the euro, as it turned out to be better than economists’ forecasts. This indicates a good pace of recovery in the eurozone, even during the coronavirus pandemic. Today we are expecting interesting statistics from the IFO Institute on the indicator of the conditions of the German business environment, an assessment of the current situation and economic expectations. It is possible that the data may turn out to be worse than the forecasts of economists, which may lead to a return of pressure on the euro. Last Friday, only Germany, of all the eurozone countries, showed poor performance in terms of activity growth. Also today there will be speeches by representatives of the European Central Bank, who will talk about the need for super-soft monetary policy. In the afternoon, a report on changes in the volume of orders for durable goods in the US is expected, but it is unlikely to significantly change the direction of the EUR / USD pair.

Buy signal

Today, you can buy the euro when the price reaches around 1.2124 (green line on the chart) with the goal of rising to the level of 1.2171. At point 1.2171, 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 upward movement will occur only if the data for Germany turn out to be better than the forecasts of economists. Important! Before buying, make sure that the MACD indicator is above zero and just starting to rise from it.

Sales signal

You can sell the euro after reaching the level of 1.2094 (red line on the chart). The target will be the level of 1.2048, 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). The bullish trend continues and sellers need bad data on Germany to somehow stop it. 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 26. Commitment of Traders COT reports (analysis of yesterday’s deals). Euro breaks through to new local highs and aims to test the level of 1.2139

What’s 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 GBPUSD on April 26th. Analysis of transactions

Analysis of transactions

There were several buy deals for the pound, but all of them did not bring the expected profit. Each time the price was tested at 1.3877, the MACD indicator was in the area of ​​the zero mark and began to grow upward, which indicated the correct entry point to the market. However, there was no normal upward movement after that and the pair quickly returned below the level of 1.3877. The maximum upward movement was about 15 points. In the afternoon, the level 1.3845 was tested twice, but it was impossible to sell the pound there. The reason is the finding of the MACD indicator in the oversold area, which limited the downward potential of the pair.

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Today’s guidelines for getting in and out

Important fundamental data for the UK is not expected today, so traders will look forward to further growth in the pair, as the bulls still managed to drag the market to their side during the Asian session. Only in the second half of the day, a report on changes in the volume of orders for durable goods in the US is expected, which will be able to somehow support the US dollar, which will lead to a downward correction in the pair.

Buy signal

You can buy the pound today when it reaches the entry point around 1.3915 (green line on the chart) with the goal of rising to the level of 1.3959 (thicker green line on the chart). In the area of ​​1.3959, 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). As long as trading is carried out above the level of 1.3885, one can count on the growth of the pound. Important! Before buying, make sure that the MACD indicator is above zero and just starting to rise from it.

Sales signal

It is possible to sell the pound today only after the level of 1.3885 (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 1.3826, 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 may return if the level of 1.3885 is broken, as such a scenario will very seriously hit the stop orders of the pound’s buyers. Important! Before selling, make sure that the MACD indicator is below zero and just starting to decline from it.

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Recommend: GBP / USD: plan for the European session on April 26th. Commitment of Traders COT reports (analysis of yesterday’s deals). Buyers break above 1.3892 and expect the pound to continue to rise

What’s 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.