empty
 
 
27.04.2022 10:31 AM
Tips for beginner traders in EUR/USD and GBP/USD on April 27, 2022

Details of the economic calendar from April 26

New orders for manufactured durable goods in the United States rose by 0.8% against the forecast of 1.0%. Despite the discrepancy in numbers, this is still a positive factor for the US economy, as it indicates a subsequent increase in consumer activity and retail sales.

The reaction of the US dollar to the statistics was positive in the market.

Analysis of trading charts from April 26

The EURUSD currency pair not only showed downward interest but also managed to update the local low on March 23, 2020, at 1.0636. This move indicated the subsequent continuation of the downward trend from June 2021, the scale of which is about 1600 points.

On the trading chart of the daily period, the quote movement is observed at the level of spring 2017. In fact, we have a signal about the price movement towards parity – 1.0000.

The GBPUSD currency pair resumed its downward movement after a slight stop near the local low of September 2020, at 1.2675/1.2720. This led to a continuation of the medium-term trend, where the pound lost almost 500 points in value in just 72 hours.

On the trading chart of the daily period, the quote movement is observed at the levels of July 2020. The retracement of the downward trend relative to the upward trend is 59%.

This image is no longer relevant

Economic calendar for April 27

Today is a rather boring day in terms of macroeconomic statistics due to the lack of statistical data significant for the market. The only thing that will be published is the index of pending sales in the United States real estate market, where fluctuations in the negative zone are predicted.

Trading plan for EUR/USD on April 27

The downward trend is considered the main movement in the market, there are prospects for a further decline. In order for a signal to appear for the subsequent growth of the volume of short positions, the quote must be kept below the level of 1.0636 in the daily period. Until then, the risk of a price rebound remains in the market, which will be justified by the oversold status of the euro.

This image is no longer relevant

Trading plan for GBP/USD on April 27

Despite the colossal oversold level of the pound, there is still a downward interest in the market. It is caused by the inertia-speculative behavior of traders who ignore the oversold status. Sooner or later, there will be a technical pullback or a full-size correction in the market. This movement will not break the integrity of the downward trend. The values 1.2500, 1.2250, and 1.2000 are considered variable pivot points.

This image is no longer relevant

What is reflected in the trading charts?

A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices.

Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market.

Circles and rectangles are highlighted examples where the price of the story unfolded. This color selection indicates horizontal lines that may put pressure on the quote in the future.

The up/down arrows are the reference points of the possible price direction in the future.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $5000 más!
    ¡En Noviembre, sorteamos $5000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback