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Analysis and trading recommendations for EUR/USD and GBP/USD on July 19

Analysis of transactions in the EUR / USD pair

Several market signals appeared on Friday. The first one, which was to sell, came at the time that the MACD line was going down from zero. However, it did not manage to produce a large downward movement, so the deal ended with a loss. All other signals appeared when the indicator was in the overbought or oversold area, so it was necessary to open positions in the opposite direction.

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Trading recommendations for July 19

Data released last Friday did not affect the markets very much. In fact, even though the US released a strong retail sales report, euro did not succumb to a bear market.

Today, trading should be quite calm, as there are no important statistics to be released. Upcoming statements from the Bundesbank, as well as housing data from the United States are unlikely to shake EUR / USD. Most likely, the pair will just remain in a horizontal channel.

For long positions:

Open a long position when euro reaches 1.1815 (green line on the chart), and then take profit at the level of 1.1849 (thicker green line on the chart). Demand will increase if the European Central Bank announces that it would reconsider winding down measures to support the economy. But before buying, make sure that the MACD line is above zero, or is starting to rise from it.

It is also possible to buy at 1.1799 and 1.1773, but the MACD indicator should be in the oversold area, as such would trigger a market reversal to 1.1815.

For short positions:

Open a short position when euro reaches 1.1799 (red line on the chart), and then take profit at the level of 1.1773. But before selling, make sure that the MACD line is below zero, or is starting to move down from it.

It is also possible to sell at 1.1815 and 1.1849, but the MACD indicator should be in the overbought area, as such would trigger a market reversal to 1.1799.

analytics60f50b897fa18.jpg

What's on the chart:

The thin green line is the key level at which you can place long positions in the EUR / USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the EUR / USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

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 decisions based on the current market situation is an inherently losing strategy for an intraday trader.

Analysis of transactions in the GBP / USD pair

Several market signals appeared on Friday, but not all of them were as profitable as expected. The first one, which was to sell, managed to push GBP / USD down by 25 pips, but failed to bring the price to the target level of 1.3780. A similar story happened in the afternoon, but it was only on the third attempt that pound managed to hit 1.3780. All in all, the downward movement was around 40 pips. Then, at 1.3842 a signal to buy appeared, but it did not bring much profit.

analytics60f50b8f907d4.jpg

Trading recommendations for July 19

Upcoming statements from the Bank of England could shake the markets today. In fact, just last week, several members changed their position, saying that the central bank now needs to reconsider scaling back support measures for the economy. If similar statements are announced today, pound will rise very sharply. Then, in the afternoon, there will be a report on the US housing sector, but it is unlikely to affect the market very much.

For long positions:

Open a long position when pound reaches 1.3769 (green line on the chart), and then take profit at the level of 1.3837 (thicker green line on the chart). But before buying, make sure that the MACD line is above zero, or is starting to rise from it.

It is also possible to buy at 1.3694, but the MACD indicator should be in the oversold area, as such would trigger a market reversal to 1.3769.

For short positions:

Open a short position when pound reaches 1.3743 (red line on the chart), and then take profit at the level of 1.3694. But before selling, make sure that the MACD line is below zero, or is starting to move down from it.

It is also possible to sell at 1.3837 and 1.3769, but the MACD indicator should be in the overbought area, as such would trigger a market reversal to 1.3743.

analytics60f50b957b601.jpg

What's on the chart:

The thin green line is the key level at which you can place long positions in the GBP/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the GBP/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

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 decisions based on the current market situation is an inherently losing strategy for an intraday trader.

The material has been provided by InstaForex Company - www.instaforex.com