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13.12.202413:36 Forex Analysis & Reviews: EUR/USD: Simple Trading Tips for Beginner Traders on December 13th (U.S. Session)

Analysis of Trades and Advice on Trading the Euro

The test of the 1.0456 price occurred when the MACD indicator had moved significantly below the zero line, which, in my opinion, limited the pair's downward potential. For this reason, I did not sell the euro. A similar situation happened in reverse at 1.0476, where I chose not to buy.

In the second half of the day, the U.S. Import Price Index is the only event on the agenda. Following yesterday's interest rate cuts in the eurozone and the anticipated similar approach from the U.S. Federal Reserve next week, today's data is unlikely to have a significant impact on the currency markets. If the Import Price Index rises more than expected, it could indicate inflationary growth, potentially altering expectations for interest rates. Conversely, a decrease in the index could reinforce views of an economic slowdown, also affecting market sentiment.

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

Exchange Rates 13.12.2024 analysis

Buy Signal

Scenario #1:Today, buying the euro is possible at a price near 1.0505 (green line on the chart) with a target at 1.0531. At 1.0531, I plan to exit the market and sell the euro in the opposite direction, expecting a movement of 30-35 points from the entry point. Euro growth today is expected only as part of a correction.

Important: Before buying, ensure that the MACD indicator is above the zero line and just beginning to rise from it.

Scenario #2:I also plan to buy the euro today in the event of two consecutive tests of the 1.0483 price level, provided the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to a reversal upward. Growth toward 1.0505 and 1.0531 can be expected.

Sell Signal

Scenario #1:I plan to sell the euro after reaching the 1.0483 level (red line on the chart), with a target at 1.0455, where I will exit the market and immediately buy in the opposite direction, expecting a movement of 20-25 points upward from the level. Downward pressure on the pair will return if the euro fails to consolidate near the daily high.

Important: Before selling, ensure that the MACD indicator is below the zero line and just beginning to decline from it.

Scenario #2:I also plan to sell the euro today in the event of two consecutive tests of the 1.0505 price level, provided the MACD indicator is in the overbought area. This will limit the pair's upward potential and lead to a reversal downward. A decline toward 1.0483 and 1.0455 can be expected.

Exchange Rates 13.12.2024 analysis

What the Chart Shows:

  • Thin Green Line: Entry price for buying the instrument.
  • Thick Green Line: Anticipated price for setting Take Profit or manually locking in profits, as further growth above this level is unlikely.
  • Thin Red Line: Entry price for selling the instrument.
  • Thick Red Line: Anticipated price for setting Take Profit or manually locking in profits, as further declines below this level are unlikely.
  • MACD Indicator: It is crucial to use overbought and oversold zones when entering the market.

Important Notes:

Beginner traders in the Forex market must exercise extreme caution when deciding to enter the market. It's best to stay out of the market before the release of major fundamental reports to avoid sudden price fluctuations. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-losses, you risk losing your entire deposit quickly, especially if you don't practice money management and trade in large volumes.

Remember, successful trading requires a clear trading plan, similar to the one outlined above. Making spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

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