25.03.202417:12 Forex Analysis & Reviews: EUR/USD: Simple trading tips for novice traders on March 25th (US Session)

Trade analysis and trading tips for the European currency

In the first half of the day, the price test of 1.0809 occurred when the MACD was starting to move down from the zero mark, confirming the signal to sell the euro. However, it all resulted in losses because the active downward movement of the pair did not occur. In the second half of the day, we await figures on the volume of home sales in the primary market in the USA, where weak indicators will surely put more pressure on the dollar, leading to an increase in risky assets. It is also worth listening to interviews and statements by FOMC member Raphael Bostic and FOMC member Lisa D. Cook. A soft tone is a reason to eliminate the dollar and buy euros. As for the intraday strategy, I will rely more on scenarios #1 and #2.

Buy Signal

Scenario #1: Today, I plan to buy euros when the price reaches around 1.0838 (green line on the chart), with a growth target to the level of 1.0867. At 1.0867, I will exit the market and sell euros in the opposite direction, expecting a movement of 30-35 points from the entry point. Euro growth today can only be expected after weak data from the USA. Important! Before buying, ensure the MACD indicator is above the zero mark and just starting to rise from it.

Scenario #2: I also plan to buy euros today in case of two consecutive tests of the price of 1.0815 when the MACD indicator is in oversold territory. This will limit the downward potential of the pair and lead to a reverse market turn upward. Expect growth to reach opposite levels of 1.0838 and 1.0867.

Sell Signal

Scenario #1: I will sell euros after reaching 1.0815 (red line on the chart). The target will be the level of 1.0778. I plan to exit the market and buy euros immediately in the opposite direction (expecting a movement of 20–25 points in the opposite direction from the level). Pressure on the pair will return after a good correction. Important! Before selling, make sure that the MACD indicator is below the zero mark and just starting to decrease.

Scenario #2: I also plan to sell euros today in case of two consecutive tests of the price of 1.0838 when the MACD indicator is in overbought territory. This will limit the upward potential of the pair and lead to a reverse market turn downward. Expect a decrease to the opposite level of 1.0815 and 1.0778.

On the chart:

Thin green line - entry price for buying the trading instrument.

Thick green line - the expected price where you can set Take Profit or independently fix profits, as further growth above this level is unlikely.

Thin red line - entry price for selling the trading instrument.

Thick red line - expected price where you can set Take Profit or independently fix profits, as further decline below this level is unlikely.

MACD indicator. When entering the market, using overbought and oversold zones is important.

Important. Beginner traders in the forex market must be very careful when deciding to enter the market. Before releasing important fundamental reports, staying out of the market is best to avoid getting caught in sharp exchange rate fluctuations. If you decide to trade during news releases, always place stop orders to minimize losses. You must set stop orders to avoid losing your entire deposit, especially if you do not use money management and trade with large volumes.

Remember, you must have a clear trading plan, like the one presented above, for successful trading. Spontaneous trading decisions based on the current market situation are initially a losing strategy for an intraday trader.