Analysis of Trades and Advice on Trading the Euro

The levels I mentioned earlier in the day were not reached due to extremely low market volatility. Even the Eurozone inflation data, which matched economists' forecasts, did not cause any significant changes in buyer and seller positions. However, the lack of eagerness to sell the Euro, even at current highs, suggests a continued upward trend in the pair. The anticipated events for the second half of the day include speeches by FOMC members Bostic and Barr. A dovish tone from these policymakers could further weaken the dollar, leading to continued growth in EUR/USD. For the intraday strategy, I plan to follow Scenarios 1 and 2.

Buy Signal

Scenario 1: Today, I plan to buy the Euro upon reaching the price area of 1.1092 (green line on the chart), targeting a rise to 1.1139. At 1.1139, I will exit the market and then sell the Euro, expecting a movement of 30-35 points from the entry point. A strong upward movement of the Euro is unlikely today, as is a significant decline. Important: Before buying, ensure the MACD indicator is above the zero line and just beginning its upward movement.

Scenario 2: I also plan to buy the Euro today if there are two consecutive tests of the 1.1069 price level when the MACD indicator is in the oversold area. This will limit the pair's downward movement and likely cause an upward reversal. Growth can be expected towards the resistance levels at 1.1092 and 1.1139.

Sell Signal

Scenario 1: I will sell the Euro if it reaches the 1.1069 level (red line on the chart) and other conditions are met. The target will be the 1.1025 level, where I plan to exit the market and then buy the Euro, expecting a movement of 20-25 points in the opposite direction. Bearish pressure will likely resume if the pair fails to rise above the daily high. Important: Before selling, ensure the MACD indicator is below the zero line and just beginning its downward movement.

Scenario 2: I also plan to sell the Euro today if there are two consecutive tests of the 1.1092 price level when the MACD indicator is in the overbought area. This will limit the pair's upward potential and likely cause a downward reversal. A decline can be expected towards the support levels at 1.1069 and 1.1025.

What's on the Chart:

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

Important: Beginner traders on the Forex market should be very cautious when making decisions about entering the market. Before the release of significant fundamental reports, it's best to stay out of the market to avoid sharp price fluctuations. If you choose to trade during news releases, always set stop orders to minimize losses. Without setting stop orders, you can quickly lose your entire deposit, especially if you don't use money management and trade with large volumes.

And remember, to trade successfully, you need a clear trading plan, like the one I've outlined above. Making spontaneous trading decisions based on the current market situation is initially a losing strategy for an intraday trader.