Analysis of Trades and Trading Tips for the Euro

The price test of 1.1682 occurred at a time when the MACD indicator had already moved significantly above the zero mark, which limited the pair's upside potential. I chose not to buy for this reason.

The lack of economic data from the eurozone will continue to create favorable conditions for a potential rise in EUR/USD. Attention should be focused on news regarding the European Central Bank's upcoming actions, as the central bank is expected to halt its interest rate cuts and announce a pause in its policy easing cycle this Thursday—a cycle it has been pursuing throughout the year. Progress in trade negotiations between the U.S. and the EU also makes the euro more attractive for buying. Tomorrow, officials from both sides will meet to continue the dialogue, which could lead to the signing of a preliminary trade agreement.

Thus, despite the absence of significant eurozone reports in the first half of the day, traders must remain vigilant and consider all factors that may influence market dynamics. Only then can you make informed decisions and profit from currency operations.

For intraday strategy, I will focus primarily on Scenarios #1 and #2.

Buy Scenario

Scenario #1: I plan to buy the euro today upon reaching the 1.1700 area (green line on the chart) with the goal of rising to 1.1749. At 1.1749, I plan to exit the market and also sell the euro in the opposite direction, expecting a 30–35 point movement from the entry point. Buying the euro today is justified by the ongoing upward trend.

Important: Before buying, ensure that the MACD indicator is above the zero mark and is just beginning to rise from it.

Scenario #2: I also plan to buy the euro today in the event of two consecutive tests of the 1.1677 price level while the MACD indicator is in the oversold zone. This will limit the pair's downside potential and lead to a reversal back upward. A rise to the opposite levels of 1.1700 and 1.1749 can be expected.

Sell Scenario

Scenario #1: I plan to sell the euro once it reaches the 1.1677 level (red line on the chart). The target will be 1.1638, where I plan to exit the market and immediately buy in the opposite direction (expecting a 20–25 point movement in the opposite direction from the level). Selling pressure on the pair may return at any moment today.

Important: Before selling, ensure the MACD indicator is below the zero mark and is just beginning to decline from it.

Scenario #2: I also plan to sell the euro today if there are two consecutive tests of the 1.1700 price level while the MACD indicator is in the overbought zone. This will limit the pair's upside potential and lead to a reversal downward. A decline to the opposite levels of 1.1677 and 1.1638 can be expected.

What's on the Chart:

• The thin green line represents the entry price where the trading instrument can be bought.
• The thick green line indicates the expected price level where a Take Profit order can be placed, or profits can be manually secured, as further price growth above this level is unlikely.
• The thin red line represents the entry price where the trading instrument can be sold.
• The thick red line indicates the expected price level where a Take Profit order can be placed, or profits can be manually secured, as further price decline below this level is unlikely.
• The MACD indicator should be used to assess overbought and oversold zones when entering the market.

Important Notes:

• Beginner Forex traders should exercise extreme caution when making market entry decisions. It is advisable to stay out of the market before the release of important fundamental reports to avoid exposure to sharp price fluctuations. If you choose to trade during news releases, always use stop-loss orders to minimize potential losses. Trading without stop-loss orders can quickly wipe out your entire deposit, especially if you neglect money management principles and trade with high volumes.
• Remember, successful trading requires a well-defined trading plan, similar to the one outlined above. Making impulsive trading decisions based on the current market situation is a losing strategy for intraday traders.