The absence of statistics and the European session following Easter did not result in market changes for the euro and the British pound. However, purchasers attempted to influence the situation but needed more strength. In addition, there are no statistics in the second half, so it is reasonable to presume that volatility will remain low and that there will be few directional movements. The impact of FOMC member Williams' speech on the market will be minimal. In light of this, I advise you to continue trading following scenario No. 2, which I will analyze in greater depth below. Only the release of something unexpected or unplanned speeches by influential political figures will alter the market's equilibrium.
EURUSD
Buy Signal
Scenario 1: Today, you should purchase euros when the price reaches 1.0918 (the green line on the chart) to reach 1.0945. At 1.0945, I advise exiting the market and selling euros in the opposite direction, anticipating a 30-35-point movement from the entry point. Important! Before purchasing, ensure that the MACD indicator is above zero and just commencing to rise from there.
Scenario 2: It is possible to purchase euros today if two consecutive price tests of 1.0904 occur while the MACD indicator is in the oversold area. This will limit the pair's bearish potential and result in an upward market reversal. We anticipate growth to diverge between 1.0918 and 1.0945.
Sell Signal
Scenario 1: You can sell euros once the price reaches 1.0904 (the red line on the chart). At the 1.0876 level, I recommend exiting the market and purchasing euros promptly in the opposite direction (counting on a movement of 20-25 points in the opposite direction from the level). Important! Ensure that the MACD indicator is below the zero line and beginning to decline before selling.
Scenario 2: It is possible to sell the euro today if the price makes two consecutive tests of 1.0918 and the MACD indicator is overbought. This will restrict the pair's upward potential and cause the market to reverse downward. We anticipate a decline to the level opposing 1.0904 and 1.0876.
GBP/USD
Buy Signal
Scenario 1: You can purchase the pound today when you reach the entry point in the area of 1.2441 (green line on the chart) to reach 1.2467 (thicker green line on the chart). In the area of 1.2467, I recommend exiting purchases and entering opposite-direction sales (counting on a movement of 30-35 points in the opposite direction from the level). Important! Before purchasing, ensure that the MACD indicator is above zero and just commencing to rise from there.
Scenario 2: It is possible to purchase the pound today if the price makes two consecutive tests of 1.2424 while the MACD indicator is in the oversold area. This will limit the pair's bearish potential and result in an upward market reversal. We anticipate price growth to diverge between 1.2441 and 1.2467.
Sell Signal
Scenario 1: It is possible to sell the pound today only after the level of 1.2424 (the red line on the chart) has been updated, resulting in a sharp decline of the pair. The key target for sellers will be 1.2392, where I recommend exiting sales and opening opposite-direction purchases immediately (counting on a movement of 20-25 points in the opposite direction from the level). Important! Ensure that the MACD indicator is below the zero line and beginning to decline before selling.
Scenario 2: It is also possible to sell the pound today if the price tests 1.2441 twice consecutively and the MACD indicator is overbought. This will restrict the pair's upward potential and cause the market to reverse downward. We anticipate a decline to the level opposite 1.2424 and 1.2392.
