Analysis of Deals and Trading Tips for the Euro

The test of the 1.0844 price occurred when the MACD indicator had already moved significantly downward from the zero mark, which limited the pair's downward potential—especially in the low volatility conditions expected throughout the day. For this reason, I did not sell the euro and missed the pair's downward movement. The decline occurred following statements from Federal Reserve representatives, who indicated their preference for a slower pace of rate cuts than initially expected after the half-point cut in September. Since there is no significant data in the first half of today, the euro might recover slightly. However, statements from European Central Bank board member Joachim Nagel and ECB President Christine Lagarde could pose a significant obstacle to this, as recently, European policymakers have increasingly advocated for more aggressive rate cuts in the Eurozone. I will focus more on implementing Scenarios #1 and #2 for my intraday strategy.

Buy Signal

Scenario #1: I plan to buy the euro when it reaches the price area of 1.0827 (green line on the chart), targeting a rise to 1.0855. At 1.0855, I plan to exit the market and sell the euro for a reversal, aiming for a movement of 30-35 pips from the entry point. A recovery in the euro today is only possible within the context of a correction. Important! Before buying, ensure the MACD indicator is above the zero mark and just starting its upward move.

Scenario #2: I also plan to buy the euro today if there are two consecutive tests of the 1.0812 price while the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to a reversal in the market's direction. A rise to the opposite levels of 1.0827 and 1.0855 can be expected.

Sell Signal

Scenario #1: I plan to sell the euro after it reaches the 1.0812 level (red line on the chart). The target will be 1.0785, where I plan to exit the market and immediately buy on the rebound (aiming for a movement of 20-25 pips in the opposite direction). Pressure on the pair can return anytime, as the downtrend remains intact. Important! Before selling, ensure the MACD indicator is below the zero mark and just starting its downward move.

Scenario #2: I also plan to sell the euro today if there are two consecutive tests of the 1.0827 price while the MACD indicator is in the overbought area. This will limit the pair's upward potential and lead to a market reversal downward. A decline to the opposite levels of 1.0812 and 1.0785 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 at which take-profit orders can be set, or profits can be manually secured, as further growth above this level is unlikely.

Thin Red Line: The entry price for selling the trading instrument.

Thick Red Line: The estimated price at which take-profit orders can be set, or profits can be manually secured, as further declines below this level are unlikely.

MACD Indicator: Considering overbought and oversold zones is crucial when entering the market.

Important Note for Beginners:

Novice traders in the Forex market must be cautious when making market entry decisions. It is best to stay out of the market before the release of major fundamental reports to avoid getting caught in sharp price movements. If you decide to trade during news releases, always set stop-loss orders to minimize losses. You can quickly lose your entire deposit without stop-loss orders, especially if you do not use money management and trade with large volumes.

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