empty
29.07.2024 10:00 AM
EUR/USD: trading tips for beginners for the European session on July 29

Overview of trading and tips on EUR/USD

Despite the release of some important US data, the levels I mentioned were not tested in the second half of the day, so we did not get any good entry points. Today, it will also be difficult to find entry signals, as there is no significant data from the Eurozone countries. Last Friday, data on the Personal Consumption Expenditures Index weakened the dollar's position, and traders may be more inclined to buy the euro, so there are still chances for a minor correction. However, I prefer trading within the channel. As for the intraday strategy, I will rely more on implementing scenario No. 2.

This image is no longer relevant

Buy signals

Scenario No 1. Today, you can buy the euro when the price reaches the area around 1.0873 plotted by the green line on the chart, with the goal of rising to the level of 1.0895. At the level of 1.0895, I plan to exit the market and also sell the euro in the opposite direction, counting on a movement of 30-35 pips from the entry point. We can count on the euro to rise today but only within the framework of a small upward correction. Before buying, make sure that the MACD indicator is above the zero mark and is just starting to rise from it.

Scenario No 2. I am also going to buy the euro today in case of two consecutive tests of the price at 1.0854 when the MACD indicator is in the oversold area. This will limit the downward potential of the instrument and lead to a reverse market upturn. One can expect growth to the opposite levels of 1.0873 and 1.0895.

Sell signals

Scenario No 1. I plan to sell the euro after it reaches the level of 1.0854 plotted by the red line on the chart. The target will be the level of 1.0833, where I am going to exit the market and buy immediately in the opposite direction (expecting a movement of 20-25 pips in the opposite direction from the level). Pressure on EUR/USD will return today if it fails to consolidate in the area of the intraday high. Before selling, make sure that the MACD indicator is below the zero mark and is just starting to decline from it.

Scenario No 2. I am also going to sell the euro today in case of two consecutive price tests of 1.0873 when the MACD indicator is in the overbought area. This will limit the pair's upward potential and lead to a reverse market downturn. One can expect a decline to the opposite levels of 1.0854 and 1.0833.

This image is no longer relevant

What's on the chart:

The thin green line is the entry price at which you can buy the trading instrument.

The thick green line is the estimated price where you can set Take-Profit (TP) or manually close positions, as further growth above this level is unlikely.

The thin red line is the entry price at which you can sell the trading instrument.

The thick red line is the price where you can set Take-Profit (TP) or manually close positions, as further decline below this level is unlikely.

MACD line: it is important to be guided by overbought and oversold areas when entering the market

Important: Novice traders in the forex market need to be very careful when making decisions to enter the market. It is best to stay out of the market before important fundamental reports are released to avoid getting caught in sharp price fluctuations. If you decide to trade during news releases, always place stop orders to minimize losses. Without setting stop orders, you can quickly lose your entire deposit, especially if you don't use money management and trade in large volumes.

And remember, for successful trading, it is necessary to have a clear trading plan, similar to the one I presented above. Spontaneously making trading decisions based on the current market situation is inherently a losing strategy for an intraday trader.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

S&P 500. Sesgo alcista. El mercado sube con la vista puesta en Trump

Los futuros de las acciones estadounidenses registran ganancias el miércoles, tras el sólido repunte de la víspera. El martes, el índice S&P 500 subió un 0,88% y el Nasdaq sumó

Anna Zotova 10:28 2025-01-22 UTC+2

Petróleo y gas. Perspectivas para la semana

El petróleo Brent muestra un descenso, pero sigue negociándose por encima de los $80 por barril. No se descarta un fortalecimiento de la corrección hasta el rango de los $77,5-78,0

Anna Zotova 11:06 2025-01-20 UTC+2

USD/JPY: consejos simples para operar para traders principiantes el 17 de enero. Análisis de las operaciones de ayer en forex.

Análisis de operaciones y consejos para operar con el yen japonés La prueba del precio 155.96 coincidió con el momento en que el indicador MACD apenas comenzaba a moverse hacia

Jakub Novak 07:29 2025-01-17 UTC+2

GBP/USD: consejos simples para operar para traders principiantes el 17 de enero. Análisis de las operaciones de ayer en forex.

Análisis de operaciones y consejos para operar con la libra esterlina. La primera prueba del precio 1.2184 en la segunda mitad del día coincidió con el momento

Jakub Novak 07:29 2025-01-17 UTC+2

EUR/USD: consejos simples para operar para traders principiantes el 17 de enero. Análisis de las operaciones de ayer en forex.

Análisis de las operaciones y consejos para operar con el euro. La prueba del precio 1.0282 en la segunda mitad del día coincidió con el momento en que el indicador

Jakub Novak 07:29 2025-01-17 UTC+2

USD/JPY: consejos simples para operar para traders principiantes el 10 de enero. Análisis de las operaciones de ayer en Forex

Análisis de las operaciones y consejos para operar con el yen japonés La prueba del nivel de precio 157.98 coincidió con el momento en que el indicador MACD había descendido

Jakub Novak 08:05 2025-01-10 UTC+2

GBP/USD: consejos simples para operar para traders principiantes el 10 de enero. Análisis de las operaciones de ayer en Forex

Análisis de las operaciones y consejos para operar con la libra esterlina La prueba del nivel de precio 1.2301 durante la segunda mitad del día coincidió con el momento

Jakub Novak 08:05 2025-01-10 UTC+2

EUR/USD: consejos simples para operar para traders principiantes el 10 de enero. Análisis de las operaciones de ayer en Forex

Análisis de las operaciones y consejos para operar con el euro La prueba del nivel de precio 1.0317 durante la segunda mitad del día coincidió con un momento

Jakub Novak 08:05 2025-01-10 UTC+2

GBPUSD: sencillos consejos de trading para principiantes para el 6 de enero. Análisis de las operaciones de divisas de ayer

Análisis de las operaciones y consejos para operar con la libra esterlina La prueba del precio en 1,2389 en la segunda mitad del día se produjo en un momento

Jakub Novak 09:10 2025-01-06 UTC+2

EURUSD: consejos sencillos para principiantes para el 6 de enero. Análisis de las operaciones de divisas de ayer

Análisis de las operaciones y consejos para operar con el euro La prueba del precio de 1,0277 en la segunda mitad del día se produjo en un momento

Jakub Novak 09:10 2025-01-06 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el 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.