How to trade EUR/USD on April 15? Simple tips for beginners.

Thursday morning, the EUR/USD currency pair tried to continue the upward movement that it started the day before. Recall that the euro started to sharply rise last night, the reasons for which are still very difficult to explain. Today we have made the assumption that this growth could be a "trap" before the European Central Bank meeting. And when the results of the meeting were announced, the movement began, which in principle should not have been. What it looks like: the ECB meeting from the very beginning did not imply a change in the parameters of monetary policy, and ECB President Christine Lagarde's speech at the press conference did not imply a tightening of rhetoric. That is, there should be no market reaction to such results of the meeting at all. But since yesterday the euro currency out of the blue increased by 110 points, today the market "owed" the dollar and at a completely "passing" meeting of the ECB, a powerful drop in the euro currency occurred. Note that the key ECB rates remained unchanged, that is, at their lowest levels. Lagarde said that the quantitative easing program of the APP will be in effect until the third quarter of 2022. All this is dovish rhetoric, but such rhetoric has long been known to everyone. The euro did not have a single chance to show growth against the dollar using such information.

On the 5-minute timeframe, the movement during the day does not need any comments or explanations. Before the results of the meeting were announced, the pair traded quite calmly, after that it fell. The first trading signal was formed when the price settled below the level of 1.0905 and it was at this time that information began to arrive. Since the results were dovish, the probability of a fall in the euro was very high, so the sell signal could be worked out. Subsequently, the price went down about 120 points, overcame the levels of 1.0837 and 1.0806 and could not form a single buy signal, which also acted as a signal to close short positions. Therefore, it was possible to manually close a single short position after a rebound from the 1.0806 level (the last signal). As a result, this transaction could bring about 90 points of profit.

The trend remains downward on the 30-minute timeframe. Yesterday's trend line was canceled very quickly, but we warned that it was weak. Earlier, the horizontal channel was also canceled. The pair is trading very erratically, without a clear trend, without a trend line and continues to settle near its 15-month lows, slowly starting to look towards multi-year lows near the 1.06 level. We believe that the euro will continue to fall in the near future. Moreover, the 1.0806 level was eventually overcome today. On the 5-minute TF tomorrow, it is recommended to trade by levels 1.0727, 1.0758, 1.0806, 1.0837, 1.0905, 1.0938, 1.0966. When passing 15 points in the right direction, you should set the Stop Loss to breakeven. No important events are planned in the European Union, and in the United States on Friday – only a report on industrial production, which is not important in the current circumstances. Thus, Friday's volatility may be much lower than on Thursday or Wednesday, but the pair is likely to try to continue falling.

1) The signal strength is calculated by the time it took to form the signal (bounce or overcome the level). The less time it took, the stronger the signal.

2) If two or more deals were opened near a certain level based on false signals (which did not trigger Take Profit or the nearest target level), then all subsequent signals from this level should be ignored.

3) In a flat, any pair can form a lot of false signals or not form them at all. But in any case, at the first signs of a flat, it is better to stop trading.

4) Trade deals are opened in the time period between the beginning of the European session and until the middle of the American one, when all deals must be closed manually.

5) On the 30-minute TF, using signals from the MACD indicator, you can trade only if there is good volatility and a trend, which is confirmed by a trend line or a trend channel.

6) If two levels are located too close to each other (from 5 to 15 points), then they should be considered as an area of support or resistance.

Support and Resistance Levels are the Levels that serve as targets when buying or selling the pair. You can place Take Profit near these levels.

Red lines are the channels or trend lines that display the current trend and show in which direction it is better to trade now.

The MACD indicator (14,22,3) consists of a histogram and a signal line. When they cross, this is a signal to enter the market. It is recommended to use this indicator in combination with trend lines (channels and trend lines).

Important speeches and reports (always contained in the news calendar) can greatly influence the movement of a currency pair. Therefore, during their exit, it is recommended to trade as carefully as possible or exit the market in order to avoid a sharp price reversal against the previous movement.

Beginners on Forex should remember that not every single trade has to be profitable. The development of a clear strategy and money management are the key to success in trading over a long period of time.