Re: Daily Market Analysis by ForexMart
Trading recommendation for EUR/USD on July 23, 2021
Looking at the EUR/USD trading chart, one can see that the quote follows the area of this week's local base, where the volume of short positions was reduced again.
In this situation, it is worth adhering to the borders of the previously specified amplitude of 1.1750/1.1830, where the most significant price changes will occur after the price has been held outside a particular border in the H4 interval.
Sell position:
Traders will consider this if the price is kept below the level of 1.1750, in the direction of 1.1700.
Buy position:
Traders will consider this if the price is kept above the level of 1.1830, in the direction of 1.1900.
Trading recommendation for GBP/USD on July 23, 2021
As for the trading chart of the GBP/USD, it can be seen that the price area of 1.3750/1.3800 still acts as a resistance in the market, leaving a chance for a change in trading interest. The strongest sell signal will come from the market after the price is kept below the level of1.3725; or else, there will be a prolonged stagnation.
Sell position:
Traders will consider this if the price is kept below the level of 1.3725, which will open the way towards the coordinates 1.3700, 1.3640, and 1.3570.
Buy position:
Traders considered this in the middle of the week, which made it possible to earn a profit on the correctional course. At the moment, traders have already taken profit and are considering sell positions, but their opinion may change if the price is kept above the level of 1.3800 in the H4 timeframe.
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