empty
 
 

Forex Analysis & Reviews: Analysis and trading signals for beginners. How to trade EUR/USD on June 25. Analysis of Thursday trades. Getting ready for Friday session.
time 24.06.2021 07:08 PM
time Relevance up to, 25.06.2021 07:06 PM

Analysis of Thursday trades:

EUR/USD on 30M chart

This image is no longer relevant

The trade on the EUR/USD pair was rather sluggish on Thursday although you can't tell this looking at the chart. However, it is all about the scale. In fact, the quotes of the pair moved by 37 pips during the day which is a very slow movement. Thus, it was very difficult for beginners to gain profit today although there were several opportunities. First of all, it should be noted that on the 30-minute time frame the ascending trend line did not stay long. In the night time, the quotes of the pair consolidated below this line and failed to break through the nearest support level of 1.1921. So, it is even better that this signal was formed at night so that traders did not follow it. At the moment, there is again no clear trend, and it is not recommended to trade using the MACD indicator. In the course of the day, three important macroeconomic reports were released in the US. However, none of them caused any market reaction.

EUR/USD on 5M chart

This image is no longer relevant

On the 5-minute time frame, only two trading signals were formed during the day near the level of 1.1921. First, the pair bounced back from this level at the very beginning of the European session. Then it moved up by 27 pips in the middle of the New York session. Novice traders could have used the first signal since it was strong enough. Unfortunately, the price did not reach the nearest level of 1.1970. Notably, during the day, the level of 1.1956 was not yet on the chart, this level is considered Thursday's high. Besides, the pair failed to rise by 30 pips which would be enough to trigger Take Profit. Therefore, traders could have profited from this trade only if they had closed positions manually. Since the downward wasn't even caused by the macroeconomic data, it was impossible to predict it. The second buy signal should not have been used at all as it was formed in the late afternoon, and we do not recommend opening trades overnight. In any case, it was already clear by that time that the pair was trading flat. The report on US GDP and durable goods orders had no effect on the pair's trajectory. On the chart, the moments of report publications are marked with a tick.

Trading tips on Friday

On the 30-minute time frame, the previous uptrend has already been canceled. Therefore, there is again no clear trend at the moment. So, it is not recommended to use the MACD indicator to look for signals until a new trend is formed. On a 5-minute time frame, we recommend trading from the levels of 1.1912, 1.1921, 1.1956, and 1.1970. As always, set Take Profit at a distance of 30-40 pips and Stop Loss at a breakeven point as soon as the price passes 15-20 pips in the right direction. On 5M, the target can be the nearest level if it is not located too close or too far away. If it is, then you should act according to the situation. On Friday, no significant events are expected in the European Union, and only several minor reports will be published in the US. Given that today the markets have downplayed much more important statistical data, tomorrow's reports are likely to be ignored as well.

On the chart

Support and Resistance Levels are the levels that serve as targets when buying or selling the pair. You can place Take Profit near these levels.

Red lines are channels or trendlines that display the current trend and show in which direction it is better to trade now.

The MACD indicator (14, 22, and 3) consists of a histogram and a signal line. When they cross, this is a signal to enter the market. It is recommended to use this indicator in combination with trend patterns (channels and trendlines).

Important announcements and economic reports that you can always find on the economic calendar can seriously influence the trajectory of a currency pair. Therefore, at the time of their release, we recommend trading as carefully as possible or exit the market in order to avoid sharp price fluctuations.

Beginners on Forex should remember that not every single trade has to be profitable. The development of a clear strategy and money management are the key to success in trading over a long period of time.

Paolo Greco,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

How to trade GBP/USD on February 6. Simple trading tips and analysis for beginners

GBP/USD initially tried to correct on Friday after falling on Thursday, but after the release of US macro data, it resumed the fall. I have already discussed the US reports

Paolo Greco 22:57 2023-02-05 UTC+2

How to trade EUR/USD on February 6. Simple trading tips and analysis for beginners

On Friday, EUR/USD continued to show volatile movements since the macroeconomic background was strong again. To be more precise, not exactly "again", since the fundamental background was strong on Wednesday

Paolo Greco 22:57 2023-02-05 UTC+2

GBP/USD outlook on February 3, 2023

The GBP/USD pair managed to correct into the medium-term bull market zone amid a weak U.S. dollar, rising above the key levels 1.2140 (200 EMA on the daily chart), 1.2240

Jurij Tolin 16:42 2023-02-03 UTC+2

Gold: range breakout after NFPs

The price of Gold is trading in the green at 1,916 at the time of writing. Technically, the rate reached strong downside obstacles and now it has turned

Ralph Shedler 14:24 2023-02-03 UTC+2

Trading tips for EUR/USD

With the December US unemployment data coming out today, it is likely that EUR/USD will see another decline in prices, especially since selling pressure has been strong in the market

Andrey Shevchenko 13:11 2023-02-03 UTC+2

EUR/USD and GBP/USD trading plan for beginners on February 3, 2023

The EURUSD currency pair showed speculative activity due to the strong information and news background. During which, the euro fell by more than 130 points. As a result, the quote

Gven Podolsky 10:58 2023-02-03 UTC+2

GBP/USD: trading plan for European session on February 3. GBP could slump lower

Yesterday GBP/USD formed a few signals for the market entry. Let's analyze the 5-minute chart and revise our trading plan. In the previous article, I referred to the level

Miroslaw Bawulski 07:55 2023-02-03 UTC+2

Trading plan for EURUSD on February 03, 2023

EURUSD rose through 1.1025 post-FOMC's decision on Wednesday only to find resistance. In less than 24 hours, the single currency pair slipped back below the 1.0900 handle, giving away

Oscar Ton 07:24 2023-02-03 UTC+2

EUR/USD: trading plan for European session on February 3, 2023. Commitments of Traders. Overview of yesterday's trading. EUR/USD dropped but hope for further growth remains

Many entry signals were generated yesterday. Let's take a look at the M5 chart to get a picture of what happened. In my previous review, I focused on 1.1003

Miroslaw Bawulski 07:14 2023-02-03 UTC+2

Outlook and trading signals for EUR/USD on February 3. COT report. Analysis of market situation. The ECB's hawkish signals pulled down the euro

EUR/USD did nothing but fall on Thursday. We have been waiting a long time for the euro to collapse and I said that the market had already worked

Paolo Greco 06:43 2023-02-03 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.