Analytics and trading signals for beginners. How to trade EUR/USD on April 26? Analysis of Friday. Getting ready for Monday - Kakiforex.com - Financial Market Media No. 1 in the World Analytics and trading signals for beginners. How to trade EUR/USD on April 26? Analysis of Friday. Getting ready for Monday Analytics and trading signals for beginners. How to trade EUR/USD on April 26? Analysis of Friday. Getting ready for Monday
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April 26, 2021

Analytics and trading signals for beginners. How to trade EUR/USD on April 26? Analysis of Friday. Getting ready for Monday

 Analysis of previous deals:


The EUR/USD currency pair resumed its upward movement on Friday and managed to surpass the previous days' highs. Thus, the upward trend, which has been maintained for almost a month, remains relevant. The rising trend line continues to support traders who aim for growth, and novice traders are encouraged to consider buy signals from the MACD indicator on the 30-minute timeframe. Unfortunately, such a signal did not appear on Friday. The MACD indicator turned up only once during the day, after a fairly noticeable upward movement and when it was already well above the zero level. Thus, despite a fairly strong upward movement, it was not possible to work it out on the current chart. Quite a lot of macroeconomic information was published during the day, but none of the reports had a significant impact on the course of trading. The report on business activity in the euro area that was published in the morning turned out to be positive, but the price began to rise much earlier than its release. After lunch, similar indexes were published in the United States. After that, the dollar slightly rose, but it looked like a pullback for the day, and not the market reaction to the data, since the reports were also quite positive. The evening speeches of Christine Lagarde and Janet Yellen also had no impact.


Now let's take a look at the 5 minute timeframe. Here, four signals were formed at once during the day, which did not overlap with similar signals from the 30-minute timeframe, so each one deserves a separate review. The first appeared immediately after the European session opened - a rebound from the 1.2023 level. The rebound was very accurate, the price did not settle below this level by a single point. Therefore, long positions should have been opened here. It was not recommended to take profit near the nearest level (1.2044), as it was too close. Thus, either Take Profit is 30-40 points, or at the next level. And the next level turned out to be 1.2070, and taking profit near it would have brought 33 points, that is, almost the same as for Take Profit. Afterwards, the price slightly retreated from this level, but there was no clear rebound, so there was no need to open sell trades. The last signal was formed after the quote surpassed the 1.2082 level, but at that time there were only two hours left before the market closed, so this signal should also be filtered out. Therefore, on the whole, novice traders managed to earn about 30-40 points on Friday.


How to trade on Monday:


On Monday, we recommend trading on the 30-minute timeframe, still buying, as the upward trend continues. The upward trend line remains relevant. The MACD indicator sharply rose again on Friday, so you need to wait for the correction and its discharge so that it can form new strong buy signals. Also, novice traders can trade from the levels 1.2082 and 1.2174 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. There are more levels on the 5-minute timeframe, each of them can also be used to receive signals. We remind you that you should only use the most accurate and clear signals. No important publications are planned for April 26 in the European Union, and a rather interesting report on orders for durable goods will be released in the United States. Markets have rarely reacted to it lately, but you should still be careful when it comes out.