Analytics and trading signals for beginners. How to trade EUR/USD on April 13? Analysis of Monday. Getting ready for Tuesday - Kakiforex | Forex markets for the smart money. Analytics and trading signals for beginners. How to trade EUR/USD on April 13? Analysis of Monday. Getting ready for Tuesday Analytics and trading signals for beginners. How to trade EUR/USD on April 13? Analysis of Monday. Getting ready for Tuesday

April 13, 2021

Analytics and trading signals for beginners. How to trade EUR/USD on April 13? Analysis of Monday. Getting ready for Tuesday

 On Monday, the EUR/USD pair traded between the levels of 1.1860 and 1.1920 for the fourth consecutive time. Thus, a sideways channel has formed, in which the price has been in for quite a long time. The most important levels are the only ones that are marked on the chart, so we did not apply the horizontal channel. It is, in principle, visible to the naked eye. Unfortunately, not a single noteworthy signal was generated on this day. The upward trend was formally retained, as the upward trend line retained its relevance. Therefore, it was necessary to consider buy signals, which would have been formed by the MACD indicator during the day. There was only one such signal. The indicator turned to the upside, but was too low. We often say that the indicator should generate signals after a pullback or correction near the zero level. Today, the indicator plunged too deep, so this signal could formally be worked out, but we did not recommend doing this. Also, during the day, an important level like 1.1866, from which the price bounced several times earlier, did not work out. Therefore, it was not a very good day for novice traders. On the other hand, there was not a single losing trade. In addition, macroeconomic reports were not released.


Now let's take a look at the 5-minute timeframe. No signal generated here during the day either. The quotes almost reached the 1.1867 level during the European session. Therefore, there was no rebound, there was no signal. Subsequently, the quotes of the euro/dollar pair rose to the 1.1912 level, around which then an outright flat began. If European traders found reasons for buying the euro, then American traders were resting today. As a result, the pair was trading in the 1.1904-1.1918 horizontal channel for the rest of the day until now, surpassing the 1.1912 level approximately every half hour. It is clear that all these signals turned out to be false, therefore, you should not have opened positions.


We recommend trading on the 30-minute buy timeframe on Tuesday, as the upward trend continues at the moment. The upward trend line continues to support bullish traders. The MACD indicator is currently well above zero, which means that novice traders need to wait for it to fall to the zero level, and only after that can they track the formation of new buy signals. Also, novice traders can trade from levels like 1.1866 and 1.1915 for a rebound or when surpassing both directions. Take Profit, as before, is set at a distance of 30-40 points. Stop Loss - to breakeven when the price passes in the right direction by 15-20 points. The levels on the 5-minute timeframe that can be distinguished are 1.1871, 1.1867, 1.1862, 1.1912, 1.1927 and 1.1937, from which rebounds or breakdowns can occur. Most of these levels are very close to each other. This is due to the horizontal channel that formed on the 30 minute timeframe. Therefore, the main thing is that the signal is clear. If the signal is not clear, then it is better not to enter the market. In regards to macroeconomic reports, the US inflation report will be released tomorrow and this report may cause a strong market reaction. It is expected that US inflation will accelerate in March and will be more than 2.0% y/y.