market reversal

Analysis of transactions and tips for trading EUR/USD The price test of 1.0719, coinciding with the significant rise of the MACD line from zero, limited the upward potential of the pair. Even so, market players continue to buy in anticipation of further interest rate hikes despite inflation in the eurozone starting to slow down. Clearly, market players do not expect any changes in the European Central Bank's monetary policy.     The empty economic calendar today will push traders to focus on upcoming US labor market data, as growth in unemployment and disappointing non-farm payrolls will convince the Fed to continue its tight approach to monetary policy. Only a pause in the rate hike cycle will weaken dollar demand and lead to a further rise in EUR/USD.     For long positions: Buy when euro hits 1.0780 (green line on the chart) and take profit at the price of 1.0816. Growth could occur. However, when buying, traders should make sure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0754, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0780 and 1.0816.   For short positions: Sell when euro reaches 1.0754 (red line on the chart) and take profit at the price of 1.0722. Pressure may return amid very good labor market statistics in the US. However, when selling, traders should 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 1.0780, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0754 and 1.0722.       What's on the chart: Thin green line - entry price at which you can buy EUR/USD Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely. Thin red line - entry price at which you can sell EUR/USD Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely. MACD line- it is important to be guided by overbought and oversold areas when entering the market   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 decision based on the current market situation is an inherently losing strategy for an intraday trader.  

Analysis of transactions and tips for trading EUR/USD Further growth became limited because the test of 1.0554 coincided with the sharp upward move of the MACD line from zero. After a short period of time, another test took place, but the MACD line went in the overbought area, leading to a signal to sell. This resulted in a price decrease of over 30 pips. The European Central Bank kept interest rates unchanged, announcing a softer approach to future monetary policy based on data that will be received in the future. However, they also did not rule out the possibility of another rate hike, similar to the Federal Reserve. Strong US GDP data for the third quarter did not particularly help dollar. And most likely, today, the empty macroeconomic calendar will give euro bulls the chance for an upward correction.     For long positions: Buy when euro hits 1.0582 (green line on the chart) and take profit at the price of 1.0604. Growth will occur as part of an upward correction, following the update of the weekly low. However, when buying, make sure that the MACD line lies above zero or rising from it. Euro can also be bought after two consecutive price tests of 1.0562, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0582 and 1.0604. For short positions: Sell when euro reaches 1.0562 (red line on the chart) and take profit at the price of 1.0531. Pressure will increase in the event of a breakdown of the important support level of 1.0562, which will lead to a continuation of yesterday's bearish trend. However, when selling, make sure that the MACD line lies under zero or drops down from it. Euro can also be sold after two consecutive price tests of 1.0582, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0562 and 1.0531.  

Analysis of transactions and tips for trading GBP/USD Further decline became limited because the test of 1.2289 coincided with the sharp downward move of the MACD line from zero. The report on the UK house price index did not make an impression on traders, and pressure on the pair returned after the speeches made by Fed representatives. But today, pound may have a chance to compensate for losses, after the speech of Bank of England Governor Andrew Bailey. He should be full of optimism, hinting at the imminent winding down of aggressive policies and interest rate cuts. Pound will continue to fall if this does not happen.   For long positions: Buy when pound hits 1.2285 (green line on the chart) and take profit at the price of 1.2327 (thicker green line on the chart). Growth will occur after Andrew Bailey's statements or after protecting the support at 1.2260. However, when buying, ensure that the MACD line lies above zero or just starts to rise from it. Pound can also be bought after two consecutive price tests of 1.2266, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2285 and 1.2327. For short positions: Sell when pound reaches 1.2266 (red line on the chart) and take profit at the price of 1.2229. Pressure will continue as soon as Bailey comments on the poor state of the UK economy and high inflation. However, when selling, ensure that the MACD line lies below zero or drops down from it. Pound can also be sold after two consecutive price tests of 1.2285, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2266 and 1.2229.   What's on the chart: Thin green line - entry price at which you can buy GBP/USD Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely. Thin red line - entry price at which you can sell GBP/USD Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely. MACD line- it is important to be guided by overbought and oversold areas when entering the market  

Analysis of transactions and tips for trading EUR/USD Further decline became limited because the test of 1.0681 coincided with the sharp downward move of the MACD line from zero. This happened even though several Fed representatives hinted at the possible continuation of the rate hike cycle and the lesser chance of a reduction in borrowing costs. Today, CPI data for Germany and retail sales report for the eurozone will come out, but it will not have much impact on the market. Instead, the speech of ECB Executive Board member Philip Lane will generate interest, as well as the speech of Fed Chairman Jerome Powell.     For long positions: Buy when euro hits 1.0700 (green line on the chart) and take profit at the price of 1.0730. Growth will occur after protecting the support at 1.0680. However, when buying, make sure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0681, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0700 and 1.0730. For short positions: Sell when euro reaches 1.0681 (red line on the chart) and take profit at the price of 1.0656. Pressure will increase after an unsuccessful attempt to hit the daily high, as well as weak data from the eurozone. However, when selling, make sure that the MACD line lies under zero or drops down from it. Euro can also be sold after two consecutive price tests of 1.0700, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0681 and 1.0656.     What's on the chart: Thin green line - entry price at which you can buy EUR/USD Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely. Thin red line - entry price at which you can sell EUR/USD Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely. MACD line- it is important to be guided by overbought and oversold areas when entering the market   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.