empty
13.09.2023 10:26 AM
EUR/USD and GBP/USD: Trading plan for beginner traders on September 13, 2023

Details of the Economic Calendar on September 12

Data on the UK labor market reflected an increase in the unemployment rate to 4.3%, which corresponds to analysts' forecasts. The number of employed individuals decreased by 207,000 in July, while a decrease of 185,000 was expected. These labor market data turned out to be far from favorable; however, the British pound did not react as expected.

Analysis of Trading Charts from September 12

The EUR/USD currency pair has formed a pullback from the zone of interaction of trading forces at 1.0650/1.0680. This movement did not lead to radical changes, as a downward cycle continues in the market.

The GBP/USD currency pair is in a stagnant state near the base of the current downward cycle. This has resulted in fluctuations within a 100-point range in the market.

This image is no longer relevant

Economic Calendar for September 13

During the European trading session, important statistical data on industrial production in the United Kingdom and the European Union are being released. However, these data will take a back seat as, during the American trading session, inflation figures in the United States are expected to be published, which may provide insights into the future actions of the Federal Reserve.

EUR/USD Trading Plan for September 13

If we consider the pullback as the initial phase of the euro's recovery, we expect a technical signal for an increase in long positions after the price holds above the 1.0800 mark. There is still a high probability that the price will return to the level from which the downward cycle began, especially if the price remains below the 1.0650 level, which could lead to its continuation.

This image is no longer relevant

GBP/USD Trading Plan for September 13

In this situation, traders pay special attention to the price range between 1.2450 and 1.2550. If the price remains above or below any of these levels, it may indicate the completion of the flat phase. Ultimately, this could provide a signal regarding the direction of future price movement.

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

How to Trade the GBP/USD Pair on May 20? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD Throughout Monday, the GBP/USD pair continued its upward movement, and at first glance, it might seem that a new uptrend is forming

Paolo Greco 05:40 2025-05-20 UTC+2

How to Trade the EUR/USD Pair on May 20? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD The EUR/USD currency pair surged upward on Monday with renewed strength. But what justified this move, given that Monday's macroeconomic and fundamental

Paolo Greco 05:40 2025-05-20 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 20: The Pound Keeps Seizing Every Opportunity

The GBP/USD currency pair continued its upward movement on Monday, which began last week. The price successfully broke through both Ichimoku indicator lines, so from a technical standpoint, the trend

Paolo Greco 04:09 2025-05-20 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 20: The Dollar Is Looking for Reasons to Fall

The EUR/USD currency pair showed a relatively substantial rise on Monday. We believe there was no macroeconomic or fundamental justification for such a sharp depreciation of the U.S. dollar that

Paolo Greco 04:09 2025-05-20 UTC+2

How to Trade the EUR/USD Pair on May 19? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD On Friday, the EUR/USD currency pair declined significantly in price, despite no macroeconomic or fundamental reasons. However, the downward trend

Paolo Greco 08:19 2025-05-19 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 19: The Pound Feels Comfortable in a Flat Market

On Friday, the GBP/USD currency pair mainly traded downward throughout the day but closed with only a minor decline. This was mostly because the dollar weakened during the Asian session

Paolo Greco 04:42 2025-05-19 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 19: The Dollar Struggles to Grow, but Still Does

The EUR/USD currency pair showed a slight decline on Friday. Although the 5-minute chart might suggest the pair spent the entire day in a downtrend, the U.S. dollar gained only

Paolo Greco 04:42 2025-05-19 UTC+2

How to Trade the GBP/USD Pair on May 19? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD On Friday, the GBP/USD pair also traded lower, although there were no objective reasons. While the euro maintains a downward trend

Paolo Greco 00:35 2025-05-19 UTC+2

How to Trade the GBP/USD Pair on May 16? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair showed minimal upward movement; however, the 5-minute timeframe indicates this was largely a sideways move

Paolo Greco 06:17 2025-05-16 UTC+2

How to Trade the EUR/USD Pair on May 16? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded in both directions throughout Thursday. The macroeconomic background was rich, but it had no decisive impact

Paolo Greco 06:17 2025-05-16 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.