empty
29.04.2025 07:18 AM
Intraday Strategies for Beginner Traders on April 29

The Pound Posted Strong Growth, Updating Monthly Highs, While the Euro Did Not Show the Same Strong Confidence

Yesterday, traders shifted their focus to new statements concerning trade negotiations and the geopolitical situation, which, to some extent, positively impacted risk assets. Many market participants expect progress in resolving the military conflict in Ukraine and concluding a trade deal between the United States and China. However, it should be noted that the euro's growth has been restrained. The absence of strong drivers and the ongoing uncertainty in the global economy prevent the European currency from demonstrating a more confident rise. The European Central Bank's actions to lower interest rates also exert pressure.

Today, the data expected include the German GfK Consumer Climate Indicator, private sector credit growth in the Eurozone, and changes in the M3 money supply aggregate. These indicators are undoubtedly important for assessing the current state of the Eurozone economy and its development prospects. The German Consumer Climate Index is traditionally seen as a leading indicator of consumer sentiment and, consequently, potential spending.

An increase in private sector lending in the Eurozone may indicate rising investment activity and consumer demand, which would positively impact economic growth. However, excessively rapid credit expansion could lead to credit bubbles and heightened financial risks.

Changes in the M3 money supply are a key indicator of the European Central Bank's monetary policy. Growth in M3 may suggest increased liquidity in the economy, which could stimulate economic growth and risk triggering inflation.

As for the pound, no statistical data is scheduled for the UK today, so the focus will shift to a speech by Sir David Ramsden, the Bank of England's Deputy Governor for Markets and Banking. His remarks could shed light on the current sentiment within the regulator regarding inflation and future monetary policy.

If the data aligns with economists' expectations, acting based on a Mean Reversion strategy is better. If the data significantly exceeds or falls short of expectations, it is preferable to use a Momentum strategy.

Momentum Strategy (Breakout):

EUR/USD

Buying on a breakout above 1.1417 may lead to a rise toward 1.1445 and 1.1487;

Selling on a breakout below 1.1375 may lead to a fall toward 1.1320 and 1.1267.

GBP/USD

Buying on a breakout above 1.3420 may lead to a rise toward 1.3465 and 1.3510;

Selling on a breakout below 1.3375 may lead to a fall toward 1.3333 and 1.3282.

USD/JPY

Buying on a breakout above 142.70 may lead to a rise toward 143.30 and 143.71;

Selling on a breakout below 142.30 may lead to a decline toward 141.86 and 141.34.

Mean Reversion Strategy (Pullbacks):

This image is no longer relevant

EUR/USD

Look for selling opportunities after a failed breakout above 1.1424 and a return below this level;

Look for buying opportunities after a failed breakout below 1.1375 and a return above this level.

This image is no longer relevant

GBP/USD

Look for selling opportunities after a failed breakout above 1.3448 and a return below this level;

Look for buying opportunities after a failed breakout below 1.3397 and a return above this level.

This image is no longer relevant

AUD/USD

Look for selling opportunities after a failed breakout above 0.6439 and a return below this level;

Look for buying opportunities after a failed breakout below 0.6404 and a return above this level.

This image is no longer relevant

USD/CAD

Look for selling opportunities after a failed breakout above 1.3881 and a return below this level;

Look for buying opportunities after a failed breakout below 1.3830 and a return above this level.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
EURUSD
Euro vs US Dollar
Summary
Buy
Urgency
1 day
Analytic
Maxim Magdalinin
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on May 2nd (U.S. Session)

Trade Analysis and Advice for the Japanese Yen The test of the 145.05 level occurred when the MACD indicator had already moved significantly below the zero mark, which limited

Jakub Novak 12:24 2025-05-02 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 2nd (U.S. Session)

Trade Analysis and Advice for the British Pound The test of the 1.3294 level in the first half of the day occurred when the MACD indicator had already moved significantly

Jakub Novak 12:19 2025-05-02 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 2nd (U.S. Session)

Trade Analysis and Advice for the Euro The test of the 1.1320 price in the first half of the day occurred at a time when the MACD indicator had already

Jakub Novak 12:17 2025-05-02 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on May 2. Review of Yesterday's Forex Trades

The test of the 144.79 level occurred at a time when the MACD indicator had already moved significantly above the zero line, which limited the pair's upside potential. Therefore

Jakub Novak 09:15 2025-05-02 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 2. Review of Yesterday's Forex Trades

The test of the 1.3311 level in the second half of the day occurred just as the MACD indicator was beginning to move downward from the zero line, confirming

Jakub Novak 09:14 2025-05-02 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 2. Review of Yesterday's Forex Trades

The test of the 1.1305 level in the second half of the day occurred when the MACD indicator had already moved far below the zero line, which limited the pair's

Jakub Novak 09:14 2025-05-02 UTC+2

Intraday Strategies for Beginner Traders on May 2

Euro and Pound Resumed Declines Against the U.S. Dollar Yesterday, Driven by Strong U.S. Fundamentals During the U.S. trading session, the euro and the pound returned to their downward movement

Miroslaw Bawulski 06:49 2025-05-02 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on May 1st (U.S. Session)

Trade Analysis and Tips for Trading the Japanese Yen The test of the 144.38 level occurred when the MACD had already moved significantly above the zero mark, which limited

Jakub Novak 18:49 2025-05-01 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 1st (U.S. Session)

Trade Analysis and Tips for Trading the British Pound The test of the 1.3304 price level in the first half of the day coincided with the MACD indicator just starting

Jakub Novak 18:47 2025-05-01 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 1st (U.S. Session)

Trade Analysis and Tips for Trading the Euro The test of the 1.1319 price level in the first half of the day coincided with the MACD indicator just beginning

Jakub Novak 18:44 2025-05-01 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.