Trading recommendations for the EURUSD currency pair – placement of trading orders April 24, 2019

For the last trading day, the euro / dollar currency pair showed a high volatility of 69 points, as a result of having a pulse downward movement. From the point of view of technical analysis, we see that the short rollback from 1.1225 was replaced by a pulse train, bringing us close to the key coordinates 1.1180 in the face of the local minimum on April 2. The news and news background came to life after long holidays, where volatility jumped after it. The information background again continued to justify the “divorce” process of Brexit. At a briefing on April 23, the deputy head of the press service of the European Commission, Mina Andreeva, said that the European Union would not revise the agreement on the UK’s withdrawal from the block. The current agreement is the best possible solution. You tell me, somewhere I have already heard it, quite right, we constantly heard these words, but after a slight lull, these phrases began to play again in the market, especially in small volumes. In support of the dollar, the statistics on sales of new housing in the United States, which went out yesterday, predicted a decline from 662K to 647K, but received 692K.

Today, in terms of the economic calendar , there are no statistics on the EU or the States. However, do not forget about the information background, which can spontaneously fly out.

Further development

Analyzing the current trading chart, we see that after approaching the key coordinates 1.1180, short positions began to slam abruptly, and the price began to draw long shadows. It is likely to assume that the quotation will feel temporary support in the face of the level of 1.1180, where stagnation (flat) or rollback is possible. In any case, traders are carefully eyeing this coordinate, monitoring the possible breakdown. This is where further short positions will be made.

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Indicator Analysis

Analyzing a different sector of timeframes (TF ), we see that in the short term there was an upward interest against the background of a rebound from the key coordinate. Intraday and mid-term perspectives keep their downward interest in the market.

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Weekly volatility / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily rate.

(April 24 was based on the time of publication of the article)

The current time volatility is 24 points. In the case of the average daily rate. In the case of slowing down and finding a point of support, volatility can be clamped within the framework of the average daily rate.

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Key levels

Zones of resistance: 1.1300 **; 1.1440; 1.1550; 1.1650 *; 1.1720 **; 1.1850 **; 1.2100

Support areas: 1.1180; 1.1000

* Periodic level

** Range Level

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

Source:: Trading recommendations for the EURUSD currency pair – placement of trading orders (April 24)

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