empty
30.12.2024 09:02 AM
EUR/USD: Simple Trading Tips for Beginner Traders on December 30. Review of Forex Trades

Analysis of Trades and Trading Tips for the Euro

The test of the 1.0426 level occurred when the MACD indicator had just begun to move downward from the zero line, confirming the validity of the entry point. However, the pair declined by only 10 pips, and a larger sell-off did not materialize.

The euro showed a slight increase on Friday afternoon. Despite this positive momentum, the currency failed to consolidate at higher levels. Traders remain cautious at the end of the year, waiting for new data and benchmarks expected in 2025. Nevertheless, the low volatility in the forex market presents opportunities for more risk-tolerant investors. Speculators are trying to capture potential sharp market movements and benefit from price fluctuations. However, traders should exercise caution, as technical analysis becomes less reliable in such conditions, and there are few other indicators to rely on.

Today's release of Spain's Consumer Price Index is unlikely to draw much interest from traders, suggesting that it's better to anticipate sustained trading within the current horizontal channel.

Regarding intraday strategy, I will focus primarily on implementing Scenario #1 and Scenario #2.

This image is no longer relevant

Buy Signal

Scenario #1: Today, I plan to buy the euro when the price reaches 1.0442 (green line on the chart) with a target of 1.0481. At 1.0481, I plan to exit the market and sell the euro in the opposite direction, expecting a movement of 30-35 pips from the entry point. A strong upward movement of the euro in the first half of the day is unlikely. Important: Before buying, ensure the MACD indicator is above the zero mark and starting to rise from it.

Scenario #2: I also plan to buy the euro today if the price tests 1.0420 twice while the MACD indicator is in the oversold zone. This will limit the pair's downward potential and lead to an upward market reversal. Growth toward the opposing levels of 1.0442 and 1.0481 can be expected.

Sell Signal

Scenario #1: I plan to sell the euro after the price reaches 1.0420 (red line on the chart). The target will be 1.0385, where I plan to exit the market and immediately buy in the opposite direction, expecting a movement of 20-25 pips from this level. Pressure on the pair could return at any moment. Important: Before selling, ensure the MACD indicator is below the zero mark and starting to decline.

Scenario #2: I also plan to sell the euro today if the price tests 1.0442 twice while 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 toward the opposing levels of 1.0420 and 1.0385 can be expected.

This image is no longer relevant

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.
Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on March 21. Review of Yesterday's Forex Trades

The price test at 148.81 occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upside potential. For this reason

Jakub Novak 08:16 2025-03-21 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 21. Review of Yesterday's Forex Trades

The price test at 1.2965 occurred when the MACD indicator moved significantly above the zero mark, limiting the pair's upside potential. For this reason, I did not buy the pound

Jakub Novak 08:16 2025-03-21 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 21. Review of Yesterday's Forex Trades

The price test at 1.0826 occurred when the MACD indicator had already moved significantly below the zero line, which limited the pair's downside potential. For this reason

Jakub Novak 08:16 2025-03-21 UTC+2

Intraday Strategies for Beginner Traders on March 21

The euro and the pound remained under pressure following the U.S. Federal Reserve meeting, where markets saw neither the expected active rate cuts nor hints of them. The strengthening

Miroslaw Bawulski 07:20 2025-03-21 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the Japanese Yen The 148.53 price test occurred when the MACD indicator was just starting to move upward from the zero mark, confirming a correct

Jakub Novak 18:34 2025-03-20 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the British Pound The 1.2976 price test occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential

Jakub Novak 18:32 2025-03-20 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the Euro The 1.0887 price test coincided with a moment when the MACD indicator had already moved significantly below the zero mark, which limited

Jakub Novak 18:29 2025-03-20 UTC+2

USD/JPY. Analysis and Forecast

The Japanese yen maintains its bullish bias, driven by expectations that the Bank of Japan will continue raising interest rates this year. A strong increase in wages could boost consumer

Irina Yanina 10:31 2025-03-20 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 20. Review of Yesterday's Forex Trades

The price test at 149.63 occurred when the MACD indicator had just begun moving downward from the zero mark, confirming a valid entry point for selling the dollar

Jakub Novak 08:08 2025-03-20 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 20. Review of Yesterday's Forex Trades

The price test at 1.2978 occurred when the MACD indicator moved significantly above the zero mark, limiting the pair's upward potential. For this reason, I did not buy the pound

Jakub Novak 08:07 2025-03-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.