Trading Plan for EUR / USD and GBP / USD pairs on 04/25/2019

The reduction of the pound is understandable, because British politicians have forgotten to take a cure for headaches and continue to suffer because of the consequences of the rapid celebration of Easter. In particular, Theresa May's associates in the Conservative Party are now demanding that "Iron Lady 2.0" be presented to them for their resignation plan. Just think about it - a retirement plan. Apparently, in this regard, it should be described when and in what sequence the Prime Minister will consider a number of events, after which he will announce his resignation. But not only that the situation itself is really comical, it also does not add confidence in what will happen next, especially in terms of negotiations with the Laborites regarding Brexit. Hence, everything seems to be a banal diversion on the part of the conservatives, disgruntled by that such a serious matter has to be discussed with their opponents. Although these same opponents have a majority in parliament and any politician is forced to coordinate his intentions with them. But besides this, market participants were disappointed with data on public sector borrowing, which increased by 0.8 billion pounds instead of decreasing by 0.4 billion pounds.


But frankly, what is happening with a single European currency cannot be understood. There was no macroeconomic data that came out and no one made loud statements. Attempts to explain what is happening with a decrease in the pound also do not withstand criticism, since the single European currency became cheaper much more than this very pound. It seems that some of the very large players close their positions and to produce a similar effect can only the largest banks. Moreover, the headquarters of the most likely candidate is located in Frankfurt am Main. Simply, it is he who is the largest player in the foreign exchange market. Yet, we learn about it only after the largest banks publish their statements for the month of April. So for now, it is better to remain cautious and stay away from the single European currency.


Today, data on applications for unemployment benefits are published in the United States. The total number of which may increase by 54 thousand. In particular, the number of initial applications should increase by 8 thousand and those repeat requests by as many as 46 thousand. Orders for durable goods can show an increase of 0.8%.


The euro/dollar currency pair continued its intensive decline, going down to the level of 1.1141. Probably assume a temporary stagnation of 1.1140 / 1.1165, where traders analyze the boundaries for breakdown to place further trading orders.


The pound/dollar currency pair, as well as its fellow euro/dollar, continued the downward movement directed to the value of 1.2888. It is likely that the current ambiguous Doji type candles will result in a stagnation of 1.2890/1.2920, where traders will take a waiting position and will work based on the Border Break Method.


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