empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

24.07.202607:51 Forex Analysis & Reviews: How to Trade the EUR/USD Currency Pair on July 24? Simple Tips and Trade Analysis for Beginners

Relevance up to 23:00 2026-07-24 UTC--4

Analysis of Thursday's Trades:

1H Chart of the EUR/USD Pair

Exchange Rates 24.07.2026 analysis

The EUR/USD currency pair continued its decline within the sideways channel that began a week ago. The flat trend has now persisted for four consecutive weeks, which is clearly visible from a distance. At this time, the euro has dropped to the lower boundary of the sideways channel, so either today or on Monday, the flat trend will conclude or the price will bounce off 1.1377 and begin a new upward move toward the upper boundary of the channel. It should be noted that market movements right now are purely technical, and traders continue to ignore much of the macroeconomic and fundamental information. Yesterday, the euro had no grounds for falling. The European Central Bank kept its monetary policy unchanged, but there was nothing dovish about it, as the market was anticipating such a decision. However, Christine Lagarde suggested that rates could be raised as early as September, and inflation could accelerate again, which would require further ECB intervention. This information was ignored, just as the rate hike from a month and a half ago was.

5M Chart of the EUR/USD Pair

Exchange Rates 24.07.2026 analysis

On the 5-minute timeframe, no trading signals were formed on Thursday. The pair declined throughout the day, but only by the end of the day did it manage to work through the area of 1.1363-1.1377. It is around this area that signals are expected to form today.

How to Trade on Friday:

On the hourly timeframe, both trend lines have been broken and are no longer relevant. Considering all the events and movements in the market over recent months, we believe that the euro should begin a confident rise. However, in reality, all current upward movement is a correction, and in recent weeks, the movement appears much more like a flat than a trend. The market continues to ignore all factors in favor of the euro.

On Friday, novice traders can open short positions targeting 1.1267-1.1275 if the price consolidates below the area of 1.1363-1.1377. Long positions can be opened with a target of 1.1461-1.1466 if the price bounces from the area of 1.1363-1.1377. Volatility may decrease again today.

On the 5-minute timeframe, levels to consider include 1.1267-1.1275, 1.1363-1.1377, 1.1461-1.1466, 1.1527-1.1531, 1.1584-1.1594, 1.1655-1.1666, 1.1745-1.1754. On Friday, business activity indexes for the services and manufacturing sectors for July will be published in Germany, the European Union, and the United States. We would pay attention to the European indexes, while the American ones are likely to be ignored.

Basic Rules of the Trading System:

  1. The strength of a signal is determined by the time it takes to form (a bounce or a breakout). The less time it took, the stronger the signal.
  2. If two or more trades were opened at a particular level on false signals, all subsequent signals from that level should be ignored.
  3. In a flat, any pair can form many false signals or none at all. Technical levels may be ignored.
  4. On the hourly timeframe, trading signals from the MACD indicator should be executed only when volatility is good, and a trend is confirmed by a trend line or channel.
  5. If two levels are too close together (5 to 20 pips), they should be considered a support or resistance area.
  6. After moving 15 pips in the correct direction, a Stop Loss should be placed at breakeven.

What's on the Charts:

Price levels (areas) of support and resistance are targets when opening long or short positions or sources of signals.

Red lines indicate channels or trend lines that display the current trend and indicate the preferred direction for trading.

The MACD indicator (14,22,3) – histogram and signal line – is a supplementary indicator that can also be used as a source of signals.

Important speeches and reports (contained in the news calendar) can significantly impact the movement of the currency pair. Therefore, during their release, trading should be conducted with maximum caution, or one should exit the market to avoid sharp reversals against preceding movements.

Beginners trading in the forex market should remember that not every trade can be profitable. Developing a clear strategy and practicing money management are key to long-term success in trading.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Paolo Greco,
Analytical expert of InstaSpot
© 2007-2026
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Não pode falar agora?
Faça sua pergunta no chat.