empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Key documents
Social Responsibility
21.11.2024 03:52 PM
EUR/USD: Simple Trading Tips for Beginners on November 21st (U.S. Session)
Open trading account Open demo account

Trade Analysis and Tips for Trading the Euro

The price test at 1.0541 coincided with the MACD indicator moving significantly below the zero mark, which, in my view, limited the pair's bearish potential. For this reason, I did not sell the euro and stayed out of trades.

Analyzing the current situation, today's dovish rhetoric from ECB representatives appears to have increased volatility in the currency market. Market participants are increasingly factoring in the likelihood of continued monetary easing from the ECB, suggesting the euro may remain under pressure. Expectations of interest rate cuts have heightened concerns about the economic situation in the Eurozone. Indicators of economic activity, particularly in manufacturing, show a slowdown, raising doubts about the ECB's ability to address inflation risks. In these conditions, investors shift to safer assets, placing additional pressure on the euro. The Federal Reserve's current policy, despite recession fears, also suggests it may refrain from further interest rate cuts.

This afternoon, key data will include initial unemployment claims, the Philadelphia Fed manufacturing index, and speeches from FOMC members Ostan D. Goolsbee and Beth M. Hammack. A drop in unemployment claims is a positive signal for the US economy and can significantly strengthen the dollar. Positive labor market data could prompt the Federal Reserve to maintain current interest rates in December. My intraday strategy will focus on implementing scenarios #1 and #2.

This image is no longer relevant

Buy Signal

Scenario #1:Buy the euro if the price reaches around 1.0534 (green line on the chart), targeting a rise to 1.0569. At 1.0569, I plan to exit and reverse the position to sell, aiming for a 30-35 point move. Significant growth in the euro is unlikely without dovish statements from Federal Reserve representatives.Note: Before buying, verify that the MACD indicator is above the zero mark and beginning to rise.

Scenario #2:I will also consider buying the euro after two consecutive tests of the 1.0513 price, provided the MACD indicator is in the oversold zone. This should limit the pair's downward potential and trigger an upward reversal. Expected resistance levels are 1.0534 and 1.0569.

Sell Signal

Scenario #1:Sell the euro if the price reaches 1.0513 (red line on the chart), targeting 1.0478, where I plan to exit and reverse the position to buy, aiming for a 20-25 point rebound. Pressure on the pair will return if Federal Reserve representatives adopt a hawkish stance.Note: Before selling, verify that the MACD indicator is below the zero mark and starting to decline.

Scenario #2:I will also consider selling the euro after two consecutive tests of the 1.0534 price, provided the MACD indicator is in the overbought zone. This should limit the pair's upward potential and trigger a downward reversal, targeting support levels at 1.0513 and 1.0478.

This image is no longer relevant

Chart Overview

  • Thin green line: Entry price for buying.
  • Thick green line: Estimated Take Profit level or point to lock in profits, as further growth above this level is unlikely.
  • Thin red line: Entry price for selling.
  • Thick red line: Estimated Take Profit level or point to lock in profits, as further declines below this level are unlikely.
  • MACD Indicator: Consider overbought and oversold conditions when entering trades.

Important Tips for Beginners

For beginners in Forex trading, it is crucial to make decisions carefully. Before major economic reports, it is advisable to stay out of the market to avoid sharp fluctuations. If you decide to trade during news releases, always use stop-loss orders to minimize potential losses. Trading without stop-loss orders, especially with large volumes, can quickly deplete your account. A clear trading plan, like the one provided above, is essential for success. Spontaneous decisions based on current market conditions often lead to losses 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
All Analytics
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders on March 7th (U.S. Session) The test of 147.41 occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential. For this reason, I refrained from selling
Jakub Novak
14:55 2025-03-07 +02:00
1120
Forecast
GBP/USD: Simple Trading Tips for Beginner Traders on March 7th (U.S. Session) The test of the 1.2892 level occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential. For this reason, I refrained from
Jakub Novak
14:50 2025-03-07 +02:00
1150
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • 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 7th (U.S. Session)

The test of 147.41 occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential. For this reason, I refrained from selling
Jakub Novak 13:55 2025-03-07 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 7th (U.S. Session)

The test of the 1.2892 level occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential. For this reason, I refrained from
Jakub Novak 13:50 2025-03-07 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 7th (U.S. Session)

The test of the 1.0831 level occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential. For this reason, I refrained from
Jakub Novak 13:46 2025-03-07 UTC+2

USD/JPY. Analysis and Forecast

The USD/JPY pair remains at October levels, driven by a weakening U.S. dollar. The yen's strength is primarily due to hawkish expectations regarding the Bank of Japan's monetary policy
Irina Yanina 13:25 2025-03-07 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 7th. Review of Yesterday's Forex Trades

The 147.63 level was tested when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential. The second test of 147.63, with MACD
Jakub Novak 07:30 2025-03-07 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 7th. Review of Yesterday's Forex Trades

The 1.2894 level was tested when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential. For this reason
Jakub Novak 07:27 2025-03-07 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 7th. Review of Yesterday's Forex Trades

The test of the 1.0825 level coincided with the moment when the MACD indicator was just starting to move up from the zero mark, confirming a valid entry point
Jakub Novak 07:24 2025-03-07 UTC+2

XAU/USD: Analysis and Forecast

Gold is attracting sellers today, yet it manages to hold above the $2,900 level. Despite selling pressure, gold remains above $2,900 as market sentiment shifts toward riskier assets. The recent
Irina Yanina 17:56 2025-03-06 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 6th (U.S. Session)

The 148.95 price test occurred when the MACD indicator had just started moving downward from the zero mark. In the context of the dollar's downtrend, this confirmed a valid short
Jakub Novak 17:44 2025-03-06 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 6th (U.S. Session)

The 1.2918 price test occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's upward potential. For this reason
Jakub Novak 17:41 2025-03-06 UTC+2

Top analytics

Relevance up to 21:00 2025-03-07 UTC--5
EUR/USD Forecast for March 7, 2025
07:09 2025-03-07
Technical analysis
Relevance up to 01:00 2025-03-08 UTC--5
EUR/USD: Simple Trading Tips for Beginner Traders on March 7th. Review of Yesterday's Forex Trades
08:24 2025-03-07
Forecast
Relevance up to 01:00 2025-03-08 UTC--5
USD/JPY: Simple Trading Tips for Beginner Traders on March 7th. Review of Yesterday's Forex Trades
08:30 2025-03-07
Forecast
Relevance up to 20:00 2025-03-07 UTC--5
EUR/USD Overview for March 7th
05:34 2025-03-07
Fundamental analysis
Relevance up to 20:00 2025-03-07 UTC--5
Trading Recommendations and Trade Analysis for EUR/USD on March 7th
03:25 2025-03-07
Trading plan
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

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.