St 1
(x + y)^2 > 0 just tells us that [spoiler](x+y) is not zero.[/spoiler]
The square of any number besides zero is > 0.
[spoiler]Another way of saying this is x NOT= -y[/spoiler]

St 2
[spoiler]This tells us nothing about y.
[/spoiler]
Combined:
All we know is that x is positive, and x NOT= -y. [spoiler]We don't have any way to know if x > y.[/spoiler]

IMO E

Is x>y??? (Rephrase: what are the signs of the variable x & y)
Watch out for even squares. They are dangerous because they obscure the signs of variables.

1.
(x+y)^2>0
Any sq is positive , but we are more interested in the individual signs of x and y.From the statement 1, its not clear. So Insuff

2.
x >0

Whats the sign of y? We dnt know. So Insuff.

Combining st 1 and 2

we know x > 0

Rewrite st 1

case 1 (x+y) >0
x>-y
if x >0

y can either be a negative number ,but bigger in magnitude.
eg 4 > -(20)
x>y?? -------> No

or can be positive number but smaller in magnitude than x
eg 4 >-(2)
x>y?? -----> Yes

Because sign of y can be both positive and negative , combining sts is Insuff

Note: Case II can be (x+y)<0 & x>0, however we need not have to proceed further because in case 1 itself we have found both conditions in which y can be positive or negative.

IMO:E