Analysis of Trades and Tips for Trading the Euro

The levels I outlined in the first half of the day were not tested. Due to the market's low volatility and the lack of key economic data from the Eurozone, I was unable to find suitable entry points. However, we are awaiting the ECB meeting and the press conference with Christine Lagarde, so volatility is expected. Additionally, important U.S. labor market data and inflation reports will be released. Weekly jobless claims, the Producer Price Index (PPI), and core PPI will be the focus for traders. Only a sharp decline in the index for August this year, along with a similar decrease in core inflation, will lead to a rise in the euro and the return of an upward trend for EUR/USD. If the inflation data indicates the need for a more cautious approach to rate cuts by the Federal Reserve, EUR/USD will likely drop further. As for the intraday strategy, I plan to act based on Scenario 1, despite the MACD indicator readings, as I expect a strong and sustained movement in the pair.

Buy Signal

Scenario 1: Today, I plan to buy the euro if the price reaches the area of 1.1027 (green line on the chart) with the target of rising to 1.1064. At the 1.1064 level, I will exit the market and sell the euro, expecting a 30-35 point movement in the opposite direction from the entry point. A strong upward move in the euro can only be expected today after U.S. inflation declines. Important! Before buying, make sure the MACD indicator is above the zero mark and just beginning to rise from it.

Scenario 2: I also plan to buy the euro today if the 1.1005 price level is tested twice consecutively when the MACD indicator is in the oversold zone. This will limit the pair's downward potential and lead to a market reversal upward. A rise to the opposite levels of 1.1027 and 1.1064 can be expected.

Sell Signal

Scenario 1: I will sell the euro after it reaches the 1.1005 level (red line on the chart). The target will be the 1.0963 level, where I plan to exit the market and immediately buy the euro (expecting a 20-25 point movement in the opposite direction from the level). The pair will face renewed pressure if inflation is high. Important! Before selling, make sure the MACD indicator is below the zero mark and just beginning to decline from it.

Scenario 2: I also plan to sell the euro today if the 1.1027 price level is tested twice consecutively when the MACD indicator is in the overbought zone. This will limit the pair's upward potential and lead to a market reversal downward. A decline to the opposite levels of 1.1005 and 1.0963 can be expected.

What is shown on the chart:

• Thin green line – the price at which the trading instrument can be bought.
• Thick green line – the assumed price where Take Profit can be set or profits can be manually fixed, as further growth above this level is unlikely.
• Thin red line – the price at which the trading instrument can be sold.
• Thick red line – the assumed price where Take Profit can be set or profits can be manually fixed, as further decline below this level is unlikely.
• MACD Indicator – When entering the market, it's essential to consider overbought and oversold zones.

Important: Beginner traders in the Forex market need to be very cautious when making decisions to enter the market. Before major fundamental reports are released, it's best to stay out of the market to avoid sharp price swings. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-losses, you can quickly lose your entire deposit, especially if you don't use proper money management, and trade in large volumes.

And remember, for successful trading, it is essential to follow a clear trading plan, like the one outlined above. Making spontaneous trading decisions based on the current market situation is a fundamentally losing strategy for intraday traders.