Analysis and trading recommendations for EUR/USD and GBP/USD on September 15

Trading recommendations for EUR / USD on September 15

Analysis of transactions

Strong report on euro area's industrial production led to a slight rise of EUR / USD in the market. Thus, long positions from 1.1859 brought about 25-30 pips of profit.

Quite a number of important statistics are due today, among which are consumer sentiment and consumer confidence in the eurozone. Such will have a significant impact on the euro, and could lead to a new wave of growth in the EUR / USD pair. It is best to continue concentrating on long positions when trading.

• Set long positions from 1.1897 (green line on the chart), and take profit around the level of 1.1935.
• Sell shorts from 1.1875 (red line on the chart), and take profit at the level of 1.1833. Downward movement will take place on the grounds of weak data on the eurozone.

Trading recommendations for GBP / USD on September 15

Analysis of transactions

The upward movement of GBP / USD was quite large, so long positions from 1.2845 brought about 50 pips of profit yesterday.

One important report for the United Kingdom today is the state of its labor market, which, if recorded a drop in unemployment, may lead to a new wave of growth in GBP / USD.

• Open long positions from 1.2877 (green line on the chart), and take profit at the level of 1.2920 (thicker green line on the chart). A rise will occur if the report on UK labor market comes out better than the forecasts.
• Sell shorts from 1.2835 (red line on the chart), and take profit around the level of 1.2777.

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