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Forex Analysis & Reviews: Analysis and trading tips for EUR/USD on April 12 (US session)

Analysis of transactions and trading tips on EUR/USD Further decline became limited because the test of 1.0702 occurred during the sharp drop of the MACD line from zero. CPI data in France and Germany coincided with forecasts, indicating that everything proceeds according to the plan of the ECB. In fact, it said it intends to lower interest rates in June. In the afternoon, consumer sentiment index from the University of Michigan and inflation expectations will come out, but regardless of the data released, euro will have a chance for an upward correction, so be cautious with selling at current lows.

For long positions: Buy when euro hits 1.0678 (green line on the chart) and take profit at the price of 1.0725. Growth will occur after very poor statistics from the US. When buying, ensure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0646, but the MACD line should be in the oversold area, as only by that will the market reverse to 1.0678 and 1.0595. For short positions: Sell when euro reaches 1.0646 (red line on the chart) and take profit at the price of 1.0595. Pressure will return in the case of strong data from the US. When selling, make sure that the MACD line lies below zero or drops down from it. Euro can also be sold after two consecutive price tests of 1.0678, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0646 and 1.0595.

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Forex Analysis & Reviews: EUR/USD and GBP/USD: Technical analysis on April 15

EUR/USD

Higher Timeframes Last week had a pronounced bearish character due to the significant downward momentum. Bears approached the influence zone of the monthly support at 1.0611, so the results of testing and interaction may determine further priorities and opportunities. The levels passed today act as supports, but due to the remote location (1.0755), they are unlikely to be relevant in the near future.

H4 - H1 The main advantage on the lower timeframes currently belongs to the bearish players. However, the pair is trading within an upward correction zone, now testing the central pivot point (1.0665). The next resistance in the development of the correction today can be noted at 1.0706 (R1), but the meeting with the weekly long-term trend (1.0771), which governs the current balance of power, will be of greater significance. A breakout and reversal of the trend could change the market's preferences. If the current correction is completed and the pair returns to the downward trend's development, the bears' focus will be on passing through the supports of classic pivot points (1.0599 - 1.0558 - 1.0492).

GBP/USD

Higher Timeframes Last week, bearish players managed to assert themselves by closing the week below the current supports (1.2464 - 1.2481 - 1.2503). The main task now is to maintain the achieved level. The next bearish target on the higher timeframes is the final level of the golden cross of the weekly Ichimoku cloud (1.2383). For bullish players to re-enter the market under current conditions, they need to form a rebound from the encountered support zone (1.2464 - 1.2481 - 1.2503)



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Forex Analysis & Reviews: Trading plan for GBP/USD on April 16. Simple tips for beginners

Take note that a significant event occurred last week – the pair left the 4-month sideways channel and may now begin forming a strong downtrend. There were concerns that the new week would start with another illogical rise from the pound, but so far they have not been justified.

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Forex Analysis & Reviews: Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound

The GBP/USD currency pair also attempted to start an upward correction on Tuesday, but volatility throughout the day was again very low. As seen in the illustration below, what we mean by "low volatility" is clear. Out of the last 30 days, there were only nine days when volatility exceeded 90 points. Another nine days ended with volatility below 50 points, indicating a complete lack of movement.


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Forex Analysis & Reviews: Trading plan for GBP/USD on April 18. Simple tips for beginners

The GBP/USD pair continued to trade sideways on Wednesday. After the price broke out of the 1.25-1.28 sideways channel, the pair suddenly stopped falling. Unfortunately, in this case, the pair may correct higher. We still expect a new downward trend since the pound doesn't have any solid reasons to rise. However, it appears that the market is returning to its previous stance where the pound is untouchable, no matter what happens. The British currency continues to trade in an aloof manner, despite last week's decline.

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Forex Analysis & Reviews: USD/JPY: trading tips for beginners for European session on April 22

Overview of trading and tips on USD/JPY The tests of the levels I identified in the afternoon did not materialize. The pair managed to recover its losses, and it stayed near the daily high during the US session. I


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