Analysis of Trades and Trading Tips for the Euro

The test of the 1.0405 level occurred when the MACD indicator had already risen significantly above the zero mark, which limited the euro's upward potential. For this reason, I did not buy the euro, and I did not find any other entry points into the market.

Today, in the first half of the day, there is again no statistical data expected from the eurozone, so I anticipate trading will remain within the channel. Without significant economic data, market participants are left to rely on technical analysis and the behavior of major players. It is important to note that the current market conditions may create opportunities for range-bound trading. Considering the low volatility, it might be wise to focus on currency pairs that are less influenced by overall market sentiment. As for my intraday strategy, I will continue to primarily implement Scenario #1 and Scenario #2.

Buy Signal

Scenario #1: Today, I plan to buy the euro if the price reaches the 1.0405 level (green line on the chart) with a target of rising to 1.0440. At the 1.0440 mark, I plan to exit the market and simultaneously sell the euro for a potential reversal of 30–35 pips from the entry point. A substantial euro rise during the day's first half is unlikely. Important: Before buying, ensure that the MACD indicator is above the zero line and is just beginning to rise.

Scenario #2: I also plan to buy the euro today if the price tests the 1.0389 level twice in a row while the MACD indicator is in the oversold area. This will limit the pair's downward potential and may lead to an upward reversal. A rise to the opposite levels of 1.0405 and 1.0440 can be expected.

Sell Signal

Scenario #1: I plan to sell the euro after reaching the 1.0389 level (red line on the chart). The target will be the 1.0361 level, where I plan to exit the market and immediately buy in the opposite direction, expecting a movement of 20–25 pips in the opposite direction from the level. Pressure on the pair may return at any moment. Important! Before selling, ensure that the MACD indicator is below the zero mark and is just beginning to decline.

Scenario #2: I also plan to sell the euro today in case of two consecutive tests of the 1.0405 level at a time when the MACD indicator is in the overbought area. This will limit the pair's upward potential and lead to a downward market reversal. A decline can be expected toward the opposite levels of 1.0389 and 1.0361.

Chart Notes

• Thin green line: Entry price for buying the trading instrument.
• Thick green line: A suggested target for Take Profit or manually locking in profits, as further growth above this level is unlikely.
• Thin red line: Entry price for selling the trading instrument.
• Thick red line: A suggested target for Take Profit or manually locking in profits, as further decline below this level is unlikely.
• MACD Indicator: Critical for identifying overbought and oversold zones to guide market entry decisions.

Important Note for Beginner Traders

• Always approach market entry decisions cautiously.
• Avoid trading during major news releases to sidestep volatile price swings.
• If trading during news releases, always set stop-loss orders to minimize losses.
• Trading without stop-loss orders or money management practices can quickly deplete your deposit, especially when using large volumes.
• A clear trading plan, like the one outlined above, is essential for successful trading. Spontaneous trading decisions based on current market conditions are inherently disadvantageous for intraday traders.