Analysis of Trades and Tips for Trading the EuroThe test of the 1.0563 level occurred when the MACD indicator had dropped significantly below zero, which, in my view, limited the euro's downward potential. For this reason, I refrained from selling the euro. A second test of 1.0563 while the MACD was in oversold territory provided a buy signal, but a significant upward movement has yet to materialize.

With no major data releases today, traders should focus on technical analysis and key support and resistance levels. During periods of low volatility, it is crucial to remain prepared for unexpected fluctuations, even if the overall trend appears calm. Similarly, a shortened session on the stock market may restrict price movements in the forex market, as many investors avoid risks on such days.

For intraday strategies, I will prioritize implementing Scenario 2.

Buy Signal

Scenario 1:Buying the euro is possible upon reaching the 1.0575 level (green line on the chart), with a target of 1.0609. At 1.0609, I plan to exit the market and consider selling the euro in the opposite direction, aiming for a 30–35 point move from the entry point. A strong rally in the euro is unlikely today.Important: Before buying, ensure the MACD indicator is above zero and beginning to rise.

Scenario 2:Another opportunity to buy arises if the price tests the 1.0547 level twice in succession while the MACD is in oversold territory. This scenario limits the pair's downward potential and could lead to an upward reversal. Potential growth targets are 1.0575 and 1.0609.

Sell Signal

Scenario 1:Selling the euro is viable after the price reaches 1.0547 (red line on the chart). The target will be 1.0516, where I plan to exit the market and consider buying immediately in the opposite direction, aiming for a 20–25 point move. Significant selling opportunities are unlikely to arise today.Important: Before selling, ensure the MACD indicator is below zero and beginning to decline.

Scenario 2:Another selling opportunity arises if the price tests 1.0575 twice in succession while the MACD is in overbought territory. This scenario limits the pair's upward potential and could lead to a downward reversal. Potential targets for the decline are 1.0547 and 1.0516.

Chart Details

• Thin Green Line — Entry price for buying the instrument.
• Thick Green Line — Suggested price for setting Take Profit or manually closing trades, as further growth above this level is unlikely.
• Thin Red Line — Entry price for selling the instrument.
• Thick Red Line — Suggested price for setting Take Profit or manually closing trades, as further declines below this level are unlikely.
• MACD Indicator — Use overbought and oversold zones as guidance for market entry.

Important Notes for Beginner Forex TradersIt is essential to exercise caution when making market entry decisions. Avoid trading during significant data releases to minimize exposure to sharp price movements. Always use stop-loss orders to limit potential losses. Without them, you risk losing your entire deposit, especially when trading large volumes without proper money management.

Adhering to a clear trading plan, such as the one outlined above, is crucial for success. Unplanned trading decisions based on current market conditions often result in losses for intraday traders.