Analysis of Trades and Tips for Trading the Euro

The test of the 1.0930 price level in the first half of the day occurred with the MACD indicator already well above the zero line, limiting the pair's upward potential. Shortly afterward, the second test of this price coincided with the MACD being in the overbought zone, confirming the correct entry point for selling the euro. However, as you can see on the chart, there was no significant downward movement. The lack of statistics and low volatility were the main reasons for the moderate price action. The second half of the day is likely to follow the same pattern as the first, given the lack of U.S. economic releases, which will also affect market volume and volatility. As for the intraday strategy, I plan to act based on the implementation of Scenario No. 2.

Buy Signal

Scenario No. 1: Today, I plan to buy the euro upon reaching the price area of 1.0935 (the green line on the chart) with the target of rising to the 1.0960 level. At 1.0960, I will exit the market and also sell the euro in the opposite direction, targeting a movement of 30-35 points from the entry point. Given today's conditions, an upward move in the euro is unlikely, so it's better to trade within the established price range. Important: Before buying, ensure that the MACD indicator is above the zero line and has just started to rise.

Scenario No. 2: I also plan to buy the euro today in the event of two consecutive tests of the 1.0916 price level when the MACD indicator is in the oversold zone. This will limit the pair's downward potential and lead to a market reversal upward. You can expect a rise to the opposite levels of 1.0935 and 1.0960.

Sell Signal

Scenario No. 1: I will sell the euro once it reaches the 1.0916 level (the red line on the chart). The target will be the 1.0888 level, where I plan to exit the market and consider buying the euro in the opposite direction (expecting a movement of 20-25 points in the opposite direction from the level). Pressure on the pair will return if the attempt to rise above the daily high fails. Important: Before selling, ensure that the MACD indicator is below the zero line and has just started to decline.

Scenario No. 2: I also plan to sell the euro today in the event of two consecutive tests of the 1.0935 price level when the MACD indicator is in the overbought zone. This will limit the pair's upward potential and lead to a downward reversal. You can expect a decline to the opposite levels of 1.0916 and 1.0888.

Chart Legend:

• Thin green line: The entry price where you can buy the trading instrument.
• Thick green line: The target price where you can set Take Profit or manually fix profits, as further growth above this level is unlikely.
• Thin red line: The entry price where you can sell the trading instrument.
• Thick red line: The target price where you can set Take Profit or manually fix profits, as further decline below this level is unlikely.
• MACD Indicator: When entering the market, it's important to consider the overbought and oversold zones.

Important Note:

Beginner traders on the forex market should be very cautious when making decisions about market entry. It's best to stay out of the market before the release of important fundamental reports to avoid getting caught in sharp price swings. If you choose to trade during news releases, always set stop orders to minimize losses. Without stop orders, you can quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

Remember, to trade successfully, you need a clear trading plan, like the one presented above. Spontaneous trading decisions based on the current market situation are generally a losing strategy for an intraday trader.