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27.03.2023 09:34 AM
Analysis and trading tips for EUR/USD on March 27

Analysis of transactions and tips for trading EUR/USD

The pair tested 1.0827 at a time when the MACD line was just starting to move below zero, which was a good reason to sell. Accordingly, this resulted in a price decrease of over 30 pips. Buying on a rebound from 1.0793 was unsuccessful.

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Euro fell on Friday due to weak data on manufacturing activity in the eurozone. And considering that there is nothing important scheduled this week apart from the ECB's speeches, volatility will be low, which means that EUR/USD will trade within a sideways channel. Business environment indicators, assessment of present situation and economic expectations for Germany will have little to no effect to markets.

For long positions:

Buy euro when the quote reaches 1.0782 (green line on the chart) and take profit at the price of 1.0814. Growth is possible, but it will only be after very good statistics from the eurozone. Traders have to make sure though that the MACD line is above zero or is starting to rise from it. Euro can also be bought at 1.0758, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0782 and 1.0814.

For short positions:

Sell euro when the quote reaches 1.0758 (red line on the chart) and take profit at the price of 1.0723. Pressure will return if there is weak economic data,a s well as dovish rhetoric from ECB representatives. However, when selling, make sure that the MACD line is under zero or is starting to move down from it. Euro can also be sold at 1.0782, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0758 and 1.0723.

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What's on the chart:

The thin green line is the key level at which you can place long positions in the EUR/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the EUR/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decision based on the current market situation is an inherently losing strategy for an intraday trader.

Jakub Novak,
الخبير التحليلي لدى شركة إنستافوركس
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