empty
30.01.2025 08:27 AM
EUR/USD: Simple Trading Tips for Beginner Traders on January 30. Analysis of Yesterday's Forex Trades

Analysis of Trades and Trading Tips for the Euro

The first test of the 1.0388 level occurred when the MACD indicator had already moved significantly downward from the zero mark, limiting the pair's downside potential. For this reason, I did not sell the euro. However, the second test of 1.0388 shortly afterward coincided with the MACD being in the oversold zone. This allowed Buy Scenario #2 to play out, resulting in a 35-pip increase for the pair.

The euro remains under pressure, fluctuating within a narrow trading range, which indicates investor caution ahead of a series of key macroeconomic reports. Following yesterday's Federal Reserve meeting, where a wait-and-see approach was reaffirmed, many traders anticipated strong reactions in the forex market, but those reactions ultimately did not materialize.

Today, the key factors that could influence the euro's dynamics will be the eurozone GDP data. Investors are closely monitoring this data, as it could lead the European Central Bank to adopt a softer stance on interest rates. Additionally, the unstable political situation in some countries within the region adds to the uncertainty. If economic indicators confirm weakness, this could further pressure the euro, while optimistic data could help restore confidence in the currency.

Today, the ECB will announce its decision on the main interest rate, with a reduction to 2.9% expected. This decrease in the ECB's main interest rate could significantly impact financial markets, leading to fluctuations in both the euro exchange rate and bond yields. The measure is intended to stimulate the eurozone economy, which is currently experiencing a slowdown in growth. Additionally, the comments made by ECB President Christine Lagarde regarding the timing of any future rate cuts will be of great importance.

For my intraday strategy, I will focus on implementing scenarios No. 1 and No. 2.

This image is no longer relevant

Buy Signal

Scenario #1: Today, you can buy euros when the price reaches around 1.0433 (green line on the chart) with the goal of growth to 1.0476. At point 1.0476, I plan to exit the market and sell euros in the opposite direction, counting on a movement of 30-35 pips from the entry point. It will be quite difficult to count on euro growth in today's first half. Important! Before buying, ensure the MACD indicator is above the zero mark and is just starting to grow from it.

Scenario #2: I will also buy euros today in the event of two consecutive tests of the price of 1.0414 when the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to a reverse upward market reversal. We can expect growth to the opposite levels of 1.0433 and 1.0476.

Sell Signal

Scenario #1: I plan to sell the euro after reaching 1.0414 (red line on the chart). The target will be the level of 1.0370, where I plan to exit the market and immediately buy in the opposite direction (calculating a movement of 20-25 pips in the opposite direction from the level). The pressure on the pair will return at any moment. Important! Before selling, make sure that the MACD indicator is below the zero mark and just starting to decline.

Scenario #2: I also plan to sell the euro today if the price of 1.0433 is tested twice consecutively at the moment when the MACD indicator is in the overbought area. This will limit the pair's upward potential and lead to a reverse downward market reversal. We can expect a decline to the opposite levels of 1.0414 and 1.0370.

This image is no longer relevant

Chart Notes

  • Thin green line: Entry price for buying the trading instrument.
  • Thick green line: A suggested target for Take Profit or manually locking in profits, as further growth above this level is unlikely.
  • Thin red line: Entry price for selling the trading instrument.
  • Thick red line: A suggested target for Take Profit or manually locking in profits, as further decline below this level is unlikely.
  • MACD Indicator: Critical for identifying overbought and oversold zones to guide market entry decisions.

Important Note for Beginner Traders

  • Always approach market entry decisions cautiously.
  • Avoid trading during major news releases to sidestep volatile price swings.
  • If trading during news releases, always set stop-loss orders to minimize losses.
  • Trading without stop-loss orders or money management practices can quickly deplete your deposit, especially when using large volumes.
  • A clear trading plan, like the one outlined above, is essential for successful trading. Spontaneous trading decisions based on current market conditions are inherently disadvantageous 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 19. Analysis of Yesterday's Forex Trades

The test of the $151.64 price level occurred when the MACD indicator had just begun to move downward from the zero mark, confirming that it was the right time

Jakub Novak 08:37 2025-02-19 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 19. Analysis of Yesterday's Forex Trades

The price level of 1.2590 was tested when the MACD indicator dropped significantly below the zero mark, limiting the downside potential for the pair. Because of this, I decided against

Jakub Novak 08:37 2025-02-19 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on February 19. Analysis of Yesterday's Forex Trades

The test of the 1.0455 price level coincided with the moment the MACD indicator began to decline from the zero mark, which confirmed a suitable entry point for selling

Jakub Novak 08:37 2025-02-19 UTC+2

Intraday Strategies for Beginner Traders on February 19

The euro continues to face growth challenges, while the pound maintains a strong position against the US dollar. Yesterday's negotiations between Russian and US representatives did not succeed in restoring

Miroslaw Bawulski 07:21 2025-02-19 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on February 18th (U.S. Session)

The first test of 152.17 occurred when the MACD indicator had moved significantly upward from the zero mark, limiting the pair's upward potential—especially in the current bearish market. For this

Jakub Novak 13:11 2025-02-18 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 18 (US Session)

The test of 1.2607 occurred when the MACD indicator began moving upward from the zero mark, confirming a valid buying entry point and resulting in a 15-point increase. Labor market

Jakub Novak 13:07 2025-02-18 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on February 18 (U.S. Session)

The first test of 1.0469 in the first half of the day coincided with a moment when the MACD indicator had already moved significantly above the zero mark, which limited

Jakub Novak 13:04 2025-02-18 UTC+2

Intraday Strategies for Beginner Traders on February 18

The recent strengthening of the U.S. dollar, following remarks from Federal Reserve representatives, has led to a surge in euro selling, causing the EUR/USD pair to reach new lows. Comments

Miroslaw Bawulski 07:48 2025-02-18 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on February 18. Analysis of Yesterday's Forex Trades

The test of the 151.52 price level occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downside potential. For this reason, I chose

Jakub Novak 07:47 2025-02-18 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on February 18. Analysis of Yesterday's Forex Trades

The price level of 1.2615 was tested when the MACD indicator was already significantly above the zero mark, which restricted the upward potential of the currency pair, particularly towards

Jakub Novak 07:47 2025-02-18 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.