empty
28.01.2025 02:06 PM
EUR/USD: Simple Trading Tips for Beginner Traders on January 28th (U.S. Session)

Trade Analysis and Tips for the Euro

The test of the 1.0433 level coincided with the MACD indicator just starting to move downward from the zero mark, confirming a valid sell entry to continue the morning trend. However, as seen on the chart, after a 10-point drop, bearish pressure on the euro weakened.

The decline in interest in the euro is evident. This can be attributed not only to political maneuvers but also to broader economic trends. Increased volatility in financial markets has led investors to favor more stable assets, such as the US dollar. This creates additional pressure on the euro, prompting many to revise their forecasts for the pair's direction. Moreover, the disparity in economic indicators between the Eurozone and the US plays a significant role. While the US economy shows strong growth, some European countries are grappling with recession and instability.

Later today, key US economic reports are expected, including the Consumer Confidence Index, Durable Goods Orders, the Richmond Fed Manufacturing Index, and the Housing Price Index. Strong statistics could bolster the dollar. The Consumer Confidence Index is a key indicator reflecting consumer sentiment and willingness to spend. High confidence levels can signal increased consumer spending, positively impacting the economy and strengthening the dollar.

For intraday strategies, I will focus on implementing Scenario #1 and Scenario #2.

This image is no longer relevant

Buy Signal

Scenario #1: Buy the euro today upon reaching the 1.0445 level (green line on the chart) with a target of 1.0491. I plan to exit the market at 1.0491 and open a sell position in the opposite direction, aiming for a 30-35 point retracement. Expect euro growth today only if US data comes in weak.Important: Before buying, ensure the MACD indicator is above the zero mark and just beginning to rise.

Scenario #2: I also plan to buy the euro today if there are two consecutive tests of the 1.0421 level while the MACD indicator is in the oversold area. This will limit the pair's downward potential and trigger a reversal upward. The expected targets are 1.0445 and 1.0491.

Sell Signal

Scenario #1: Sell the euro after the price reaches the 1.0421 level (red line on the chart). The target will be 1.0387, where I plan to exit the market and immediately buy in the opposite direction, aiming for a 20-25 point retracement. Bearish pressure on the pair could return at any time, especially after strong US data.Important: Before selling, ensure the MACD indicator is below the zero mark and just beginning to decline.

Scenario #2: I also plan to sell the euro today if there are two consecutive tests of the 1.0445 level while the MACD indicator is in the overbought area. This will limit the pair's upward potential and trigger a reversal downward. The expected targets are 1.0421 and 1.0387.

This image is no longer relevant

Chart Legend

  • Thin green line: Entry price for buying the instrument.
  • Thick green line: Target price where Take Profit orders can be placed or profits can be manually secured, as further growth beyond this level is unlikely.
  • Thin red line: Entry price for selling the instrument.
  • Thick red line: Target price where Take Profit orders can be placed or profits can be manually secured, as further decline beyond this level is unlikely.
  • MACD Indicator: When entering the market, consider overbought and oversold zones.

Important Note for Beginner Forex Traders

Beginner traders should approach market entry decisions with caution. It's better to stay out of the market ahead of major fundamental reports to avoid sudden price swings. If you decide to trade during news releases, always set Stop-Loss orders to minimize losses. Without Stop-Loss protection, you risk losing your entire deposit quickly, especially when trading large volumes without proper risk management.

Finally, successful trading requires a clear trading plan, such as the one outlined above. Spontaneous trading decisions based on current market conditions are a losing strategy 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 February 3rd (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The test of the 155.63 level in the first half of the day occurred when the MACD indicator had just started

Jakub Novak 13:45 2025-02-03 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 3rd (U.S. Session)

Trade Review and Tips for Trading the British Pound The first test of the 1.2313 level occurred when the MACD indicator had already moved significantly above the zero line, clearly

Jakub Novak 13:41 2025-02-03 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on February 3rd (U.S. Session)

Trade Review and Tips for Trading the Euro The price test at 1.0234 occurred when the MACD indicator just began moving downward from the zero line, confirming a valid entry

Jakub Novak 13:38 2025-02-03 UTC+2

AUD/JPY. Analysis and Forecast

The AUD/JPY pair starts the new week with aggressive selling, falling to its lowest level since September 2024, around 94.50 during the Asian session. However, spot prices have partially recovered

Irina Yanina 12:39 2025-02-03 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 3. Analysis of Yesterday's Forex Trades

The test of the 1.2430 price level occurred when the MACD indicator had moved significantly above the zero mark, limiting further upward potential. As a result, I decided against buying

Jakub Novak 08:16 2025-02-03 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on February 3. Analysis of Yesterday's Forex Trades

The price test of 154.82 came at a time when the MACD indicator had risen significantly above the zero mark, which limited the pair's potential for further gains. Shortly after

Jakub Novak 08:16 2025-02-03 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on February 3. Analysis of Yesterday's Forex Trades

The test of the 1.0392 price level coincided with the MACD indicator beginning to rise from the zero mark, confirming it as the right entry point for buying the euro

Jakub Novak 08:13 2025-02-03 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on January 31st (U.S. Session)

The test of 154.54 in the first half of the day occurred when the MACD indicator had already moved significantly below zero, which, within the morning uptrend, limited the pair's

Jakub Novak 13:19 2025-01-31 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on January 31st (U.S. Session)

The first test of 1.2429 occurred when the MACD indicator had already moved significantly above zero, limiting the pair's upside potential. For this reason, I did not buy GBP/USD

Jakub Novak 13:16 2025-01-31 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on January 31st (U.S. Session)

The test of the 1.0399 level occurred when the MACD indicator had already moved significantly above the zero mark, which limited the pair's upward potential, especially within the prevailing bearish

Jakub Novak 13:13 2025-01-31 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.