Analysis of transactions and tips for trading EUR/USD
There are no statistics scheduled to be released today, and only the Fed's minutes is expected. But considering that much has changed since the FOMC meeting, it is unlikely that the information it contains will have any effect on the market. Nevertheless, it is worth noting that things could end up very badly for both euro and pound as investors are becoming increasingly worried over the Fed's stance on interest rates. If the protocol turns out to be soft, demand for euro and pound will return.
EUR/USD
For long positions:
Buy euro when the quote reaches 1.0646 (green line on the chart) and take profit at the price of 1.0691.
Euro can also be bought at 1.0625, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0646 and 1.0691.
For short positions:
Sell euro when the quote reaches 1.0625 (red line on the chart) and take profit at the price of 1.0587.
Euro can also be sold at 1.0646, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0625 and 1.0587.
GBP/USD
For long positions:
Buy pound when the quote reaches 1.2119 (green line on the chart) and take profit at the price of 1.2170 (thicker green line on the chart).
Pound can be bought at 1.2079, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2119 and 1.2170.
For short positions:
Sell pound when the quote reaches 1.2079 (red line on the chart) and take profit at the price of 1.2035.
Pound can also be sold at 1.2119, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2079 and 1.2035.
