FX.co ★ Analysis and trading recommendations for the EUR/USD and GBP/USD pairs on April 15

Analysis of transactions in the EUR / USD pair

Given the low volatility and trading volume yesterday, only one signal appeared in the market. Fortunately, it coincided with the MACD line moving up from zero, so the euro was able to climb 15 pips up from 1.1972.

Trading recommendations for April 15

Euro traded upwards yesterday because of better-than-expected data on industrial output. At the same time, investors ignored the statements of the Federal Reserve, even though it pointed out the strong and more rapid recovery of the US economy.

Today, Europe will publish reports on inflation, particularly on the CPI of France, Germany and Italy. Strong performance could lead to a stronger euro, while weak figures will result in a decline in the market. Then, in the afternoon, the US will release data on retail trade and jobless claims, which should give support to the dollar as good indicators are expected.

For long positions:

Enter a long position when the quote reaches 1.1992 (green line on the chart), and then take profit around the level of 1.2034. Strong data from the Euro area will result in a strong upward movement in EUR / USD.

But before buying, make sure that the MACD line is above zero, or is starting to move up from it.

For short positions:

Enter a short position when the quote reaches 1.1966 (red line on the chart), and then take profit at the level of 1.1924. Weak data from the Euro area will lead in another downward movement in EUR / USD.

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

Two buy signals appeared in the market yesterday. However, the first one had to be ignored because the MACD line, during that time, was in the overbought area. It was only when the pound hit 1.3779 for the second time that the signal became successful, although the upward movement was only around 15 pips.

Trading recommendations for April 15

The pound will continue trading sideways because the only thing that buyers can afford is a temporary price increase. After it, the pound will turn down again and return to its previous levels.

With regards to macro statistics, the US will release reports on retail trade, jobless claims and industrial production. But the data on production will be of the least concern to investors.

For long positions:

Enter a long position when the quote reaches 1.3785 (green line on the chart), and then take profit at the level of 1.3826 (thicker green line on the chart). Pound will trade higher if the bulls manage to push the quote above 1.3785.

Make sure that when you buy GBP, the MACD line is above zero or is starting to rise from it.

For short positions:

Enter a short position after the quote reaches 1.3758 (red line on the chart), and then take profit at the level of 1.3714.

When 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.