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04.07.202415:17 Analisis Forex & Kajian: EUR/USD: Simple trading tips for beginner traders for July 4th (US session)

Analysis of Trades and Tips for Trading the Euro

Testing the price at 1.0795 in the first half of the day coincided with the moment when the MACD indicator moved significantly upward from the zero mark, limiting the pair's upward potential. For this reason, I did not buy the euro. Besides the ECB's monetary policy meeting report, there is nothing else scheduled for the second half of the day, so trading is likely to continue within the sideways channel, which I will use to my advantage. The US Independence Day holiday may also bring some adjustments, so significant market movement is not expected. As for intraday strategy, I plan to act based on Scenario 2.

Buy Signal

Scenario 1: Today, I plan to buy the euro at the price level of around 1.0813 (green line on the chart), with the target of rising to 1.0852. At 1.0852, I will exit the market and also sell the euro in the opposite direction, targeting a 30-35 point movement from the entry point. A strong upward movement of the euro is unlikely today. Important! Before buying, make sure that the MACD indicator is above the zero mark and that it is just starting its upward movement.

Scenario 2: I also plan to buy the euro today if the price at 1.0780 is tested twice consecutively when the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to an upward market reversal. Growth to the opposite levels of 1.0813 and 1.0852 can be expected.

Sell Signal

Scenario 1: I will sell the euro after reaching the level of 1.0780 (red line on the chart). The target will be 1.0748, where I plan to exit the market and buy euros immediately in the opposite direction (targeting a 20-25 point movement in the opposite direction from the level). Pressure on the pair will return if the attempt to break beyond the daily high fails. Important! Before selling, make sure that the MACD indicator is below the zero mark and that it is just starting its downward movement.

Scenario 2: I also plan to sell the euro today if the price at 1.0813 is tested twice consecutively when 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 1.0780 and 1.0748 can be expected.

What the Chart Shows:

• Thin green line: Entry price for buying the trading instrument.
• Thick green line: Target price for placing Take Profit or manually fixing profits, as further growth above this level is unlikely.
• Thin red line: Entry price for selling the trading instrument.
• Thick red line: Target price for placing Take Profit or manually fixing profits, as further decline below this level is unlikely.
• MACD Indicator: When entering the market, it is important to consider overbought and oversold zones.

Important: Beginner forex traders should make market entry decisions very cautiously. Before the release of important fundamental reports, it is best to stay out of the market to avoid sudden price swings. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-loss orders, you can quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

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

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Jakub Novak,
Analytical expert of InstaSpot
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