empty
18.09.2023 10:51 AM
EUR/USD and GBP/USD: Trading plan for beginner traders on September 18, 2023

Details of the Economic Calendar on September 15

The pace of industrial production growth in the United States has accelerated from 0.0% to 0.2%. However, despite this positive report, the U.S. dollar remained stable and even weakened slightly, despite expectations of growth. This can be explained by the fact that the market had already priced in this growth, and perhaps the dollar was overbought. Even though the report was more positive than expected, the dollar could not demonstrate significant strengthening due to its overbought condition.

Analysis of Trading Charts from September 15

The EUR/USD currency pair returned to the area of the previously breached support in the range of 1.0650/1.0680 after a slight pullback. Several factors may explain this move, including an overheating of short positions on the euro and the breakout and pullback pattern often observed after the breach of important levels.

On the other hand, the British pound continues its downward cycle despite a technical signal of being oversold.

This image is no longer relevant

Economic Calendar for September 18

Monday, as usual, is accompanied by an empty macroeconomic calendar. There are no expected significant statistical data releases in the European Union, the United Kingdom, or the United States.

As a result, investors and traders are likely to rely on incoming news and information flows to make market decisions.

EUR/USD Trading Plan for September 18

Sustained price action below the level of 1.0650 would increase the probability of further decline in the euro's exchange rate. However, the market still considers the euro to be oversold at the moment, and this could lead to a pullback and a stagnation in price dynamics.

This image is no longer relevant

GBP/USD Trading Plan for September 18

The support level around 1.2350 could act as a barrier for sellers and trigger a reduction in short positions, which, in turn, could lead to a minor rebound and partial recovery of the British pound's exchange rate. However, for the continuation of the downward cycle and a change in medium-term trading interests, it is important for the price to remain below the level of 1.2300 during the daily period.

This image is no longer relevant

What's on the charts

The candlestick chart type is white and black graphic rectangles with lines above and below. With a detailed analysis of each individual candle, you can see its characteristics relative to a particular time frame: opening price, closing price, intraday high and low.

Horizontal levels are price coordinates, relative to which a price may stop or reverse its trajectory. In the market, these levels are called support and resistance.

Circles and rectangles are highlighted examples where the price reversed in history. This color highlighting indicates horizontal lines that may put pressure on the asset's price in the future.

The up/down arrows are landmarks of the possible price direction in the future.

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

GBP/USD: Trading Plan for the U.S. Session on June 13th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3531 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened. A decline

Miroslaw Bawulski 12:37 2025-06-13 UTC+2

EUR/USD: Trading Plan for the U.S. Session on June 13th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.1556 level and planned to base market entry decisions on it. Let's look at the 5-minute chart and analyze what happened. A rise

Miroslaw Bawulski 12:31 2025-06-13 UTC+2

How to Trade the GBP/USD Pair on June 13? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair demonstrated a relatively strong upward movement, though the British pound did experience intraday declines. There were many

Paolo Greco 06:31 2025-06-13 UTC+2

How to Trade the EUR/USD Pair on June 13? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair on Thursday and during the night into Friday exhibited "American-style racing." Over the past two days, the U.S

Paolo Greco 06:31 2025-06-13 UTC+2

Trading Recommendations and Analysis for GBP/USD on June 13: Weak GDP Spoiled the Picture for the Pound.

On Thursday, the GBP/USD currency pair continued to move upward. However, somewhat surprisingly, the pound appreciated less this week than the euro. The British currency came under pressure first from

Paolo Greco 03:41 2025-06-13 UTC+2

Trading Recommendations and Analysis for EUR/USD on June 13: Trump Warns of Tariff Hikes

The EUR/USD currency pair continued its strong upward movement on Thursday, which began on Wednesday. A downward pullback started by the end of the day, but it was significantly weaker

Paolo Greco 03:40 2025-06-13 UTC+2

How to Trade the GBP/USD Pair on June 12? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair moved in a manner similar to the EUR/USD pair. The U.S. inflation report became a new driver

Paolo Greco 06:05 2025-06-12 UTC+2

How to Trade the EUR/USD Pair on June 12? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair resumed its upward trend, lasting more than four months. More precisely, it has continued since Donald

Paolo Greco 06:05 2025-06-12 UTC+2

Trading Recommendations and Analysis for GBP/USD on June 12: The Pound Finds a New Reason to Cheer

On Wednesday, the GBP/USD currency pair resumed its upward movement. As previously noted, the British currency currently has no valid reason to decline against the U.S. dollar—specifically, against the U.S

Paolo Greco 04:00 2025-06-12 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.