After a slight correction, the EUR/USD pair tried to resume the upward movement on Friday, but it stayed at the 1.1990 level again, as it failed to move even farther for the third time in two days. The psychological level at 1.2000 is located near the 1.1990 level, which provides additional resistance to the price. Thus, the upward trend continues, but the EUR/USD pair has not yet been able to continue the upward movement. We should also draw your attention to the low volatility in the last two trading days. This indicator did not exceed 40 points on Thursday and Friday, which is very small even for the euro currency. Thus, in principle, it was very inconvenient to trade these days. During the last trading day of the current week, only one buy signal from MACD was formed on the 30-minute timeframe. However, novice traders had to filter it out, since, firstly, it formed before the opening of the European trading session, that is, formally at night, and secondly, the MACD indicator turned up much below the zero level. Formally, of course, this signal could also be worked out, since it did not violate trading rules. The signal turned out to be correct and would have made it possible to earn around 28 points. But in such situations, traders must make their own decisions whether to open a deal.
Now let's take a look at the 5 minute timeframe. Two signals appeared during the day and both were for short positions. Extreme levels dispersing at the bottom did not provide help on Friday. As a reminder to novice traders, these levels are the lows and highs of the previous days. In theory, the price can bounce off them or overcome them, forming signals. Last Friday night, the price surpassed the closest level (1.1957), but the signal was formed at night, so it shouldn't have been worked out. And the level itself turned out to be weak, the downward movement did not continue, so you can ignore it in the future. As for the two sell signals, both were formed upon rebounds from the 1.1990 in the future. Here, novice traders can understand what a clear signal is. Almost a point touch to the 1.1990 in the future and an immediate pullback to the downside. Unfortunately, weak volatility did not make it possible for us to earn money on these signals. Both times the price went down no more than 15-16 points, and the deal had to be closed manually at the end of the day, which would have brought just 15 points of profit. The cart also shows the moment/time when the report on inflation in the EU was published, to which, however, there was no reaction.
How to trade on Monday:
We recommend trading on the 30-minute timeframe on Monday, still buying, as the upward trend continues at the moment. The upward trend line continues to support bull traders. However, if the MACD indicator generates buy signals much below the zero level, then we recommend filtering them out (or opening a trade at your own risk). In general, the current situation is not very favorable for trading, as volatility remains low. Also, novice traders can trade from 1.1990 and 1.1915 for a rebound or a breakthrough in 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 situation is also not very favorable on the 5-minute timeframe. By and large, there are only two levels close to the price - 1.1947 and 1.1990. Therefore, you can use them in trading on Monday. No important publications scheduled for April 19, either in the US or in the EU.
