Trade analysis and tips for trading the euro:

The test of the 1.0911 level occurred when the MACD indicator had just started moving down from the zero mark, confirming the right entry point into the market. As a result, the pair moved down by about 15 points, and that was it. The absence of significant statistics from the Eurozone and the U.S., along with speeches from Federal Reserve representatives, gave further justification for selling the euro and buying the U.S. dollar. Today, the first half of the day is expected to be more eventful. Inflation data from France and Spain are expected. Additionally, more significant reports like the German ZEW Economic Sentiment Index, the Eurozone ZEW Economic Sentiment Index, and changes in industrial production volume will be released. Only very positive data will trigger a rise in the euro and a fall in the dollar. As for the intraday strategy, I will focus more on executing scenarios No.1 and No. 2.

Buy signal:

Scenario No.1: Today, I plan to buy the euro when the price reaches around 1.0911 (green line on the chart) with a target of rising to the level of 1.0979. At 1.0979, I plan to exit the market and then sell the euro, targeting an upward move of 30-35 points from the entry point. Any rise in the euro today during the first half of the day can only be expected as part of a correction. Important: before buying, make sure that the MACD indicator is above the zero mark and has just started its upward movement.

Scenario No.2: I also plan to buy the euro today in case of two consecutive tests of the 1.0884 price level when the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to an upward market reversal. A rise to the opposite levels of 1.0911 and 1.0979 can be expected.

Sell signal:

Scenario No.1: I plan to sell the euro after reaching the level of 1.0884 (red line on the chart). The target will be the level of 1.0833, where I will exit the market and immediately buy the euro in the opposite direction, targeting a movement of 20-25 points in the opposite direction from the level. Pressure on the pair will return if it fails to rise beyond the daily high. Important: before selling, make sure that the MACD indicator is below the zero mark and has just started its downward movement.

Scenario No.2: I also plan to sell the euro today if there are two consecutive tests of the 1.0911 price level, with the MACD indicator in the overbought area. This will limit the pair's upward potential and lead to a reversal downwards. A decline to the opposite levels of 1.0884 and 1.0833 can be expected.

What's on the chart:

• Thin green line: The entry price at which the trading instrument can be bought.
• Thick green line: The estimated price where Take Profit can be set or profits fixed manually, as further growth above this level is unlikely.
• Thin red line: The entry price at which the trading instrument can be sold.
• Thick red line: The estimated price where Take Profit can be set or profits fixed manually, as further decline below this level is unlikely.
• MACD indicator: When entering the market, it is important to consider overbought and oversold zones.

Important note: Beginner Forex traders must make entry decisions with caution. It's best to stay out of the market before the release of important fundamental reports to avoid sharp price fluctuations. If you decide to trade during news releases, always place 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 in large volumes.

And remember, successful trading requires a clear trading plan, like the one presented above. Spontaneous trading decisions based on the current market situation are a fundamentally flawed strategy for an intraday trader.