FX.co ★ Trading recommendations for starters of EUR/USD and GBP/USD on April 28, 2021

Here's the details of the economic calendar for April 27:

The economic calendar on Tuesday was almost empty, which led to a low activity in the market. The only more or less important statistic was the US S&P/Case-Shiller House Price Index for February, which increased from 11.1% to 11.9%.

The index is prepared by the agency Standard and Poor's, which covers the change in the value of residential real estate in 20 regions of the United States. This indicator is considered an important indicator of the real estate market, and its growth can lead to the strengthening of the national currency.

There may have been a reaction to the growth of the index, but it was insignificant judging by the market activity.

Analysis of trading charts on April 27:

Since the trading week started, the EUR/USD pair has had a downward trend from a local high of 1.2116, where there was an insignificant stagnation within the borders of 1.2056/1.2092 at the end of the previous day.

The trading recommendation on April 27 considered the signal coordinates 1.2050 (sell) and 1.2130 (buy) as pivot points. The quote did not reach the highlighted values, so no trades were opened.

Following its European counterpart, the British currency showed low activity, where the amplitude was only 66 points.

During yesterday's trading, some traders might have triggered sell orders relative to the coordinate 1.3860, since the recognized value was broken by 3 points.

Trading recommendations of EUR/USD and GBP/USD on April 28, 2021

Today, everyone is focused on the results of the two-day meeting of the Federal Open Market Committee (FOMC), where the regulator is highly likely to leave the key rate, as well as the parameters of monetary policy, unchanged.

What's interesting with this event?

We are dealing with the most powerful central bank in the financial world. Therefore, there might be valuable comments even when it does not change anything in its policy. After the results of the meeting, a press conference will follow, starring the Fed Chairman, Jerome Powell. One should carefully listen to the risks and forecasts for the economic recovery, since this information can be used by the market in the form of growth or decline of the US dollar's value.

• 18:00 Universal time - Results of the Fed meeting
• 18:30 Universal time - Press conference

Looking at the trading chart of EUR/USD, it shows that the quote still follows the amplitude of 1.2056/1.2092, showing low activity. We can assume that the current price fluctuation will be regarded by market participants as a cumulative process, which may ultimately lead to acceleration.

Trading tactics are based on the method of breaking a particular limit of the amplitude, working on the outgoing impulse.

Let's illustrate the trading signals:

• Buy positions will be considered if the price is held above the level of 1.2095, with the prospect of moving to 1.2115. The subsequent buy positions will come from holding the price above 1.2130.
• Sell positions will be considered if the price is held below the level of 1.2050, with the prospect of moving to 1.2000.

As for the trading chart of the GBP/USD, it can be seen that the amplitude price fluctuations are within the area of 1.3860/1.3927, which traders already regard as a platform for the next acceleration.

The trading method also proceeds from the principle of breaking a certain limit of the set range. It is worth considering that if the sell positions have already been opened, and the quote will show upward activity, the method of turning over the trade transaction should be used, where the previous operation is liquidated.