Trading recommendations for the EUR/USD pair on September 25
Analysis of transactions
The bears failed to trigger a large decrease in the EUR/USD pair yesterday, so as a result, short positions in the market only brought about 20 pips of profit. Nevertheless, the priority is still on sales, since weak reports for Germany put pressure on the European currency.
Today, the euro may rise on the grounds that upcoming reports or statements by the authorities do not serve as an impetus for depreciation. Otherwise, the quotes will close in a sideways channel, at 1.1647-1.1685 in particular, without forming a good upward correction.
- Buy positions when the quote reaches a price level of 1.1685 (green line on the chart). However, a huge price increase is not really expected today. Thus, take profit at the level of 1.1758.
- Sell positions after the quote reaches the level of 1.1647 (red line on the chart). A breakout and consolidation below this level could lead to another large drop in the euro. Take profit at the level of 1.1586.
Trading recommendations for the GBP/USD pair on September 25
Analysis of transactions
Major players were absent in the market yesterday. Thus, short positions from 1.2704 did not lead to the desired downward movement in the GBP/USD pair.
Meanwhile, in the afternoon, long positions from 1.2740 became very profitable, as growth in the pound amounted to about 35 pips.
Nonetheless, there are no important statistics today, so it is likely that the pair will remain in a sideways channel that it has been in over the past few days. An upward correction could occur though after a huge drop in quotes this week.
- Buy positions when the quote reaches a price level of 1.2773 (green line on the chart). Take profit at the level of 1.2826 (thicker green line on the chart).
- Sell positions after the quote reaches the level of 1.2744 (red line on the chart). Take profit at the level of 1.2677.
