empty
 
 

Forex Analysis & Reviews: How to trade EUR/USD on November 29, 2022. Simple trading tips and analysis for beginners
time 28.11.2022 11:40 PM
time Relevance up to, 29.11.2022 07:49 PM

Analyzing trades on Monday:

EUR/USD on 30M chart

This image is no longer relevant

The EUR/USD trade went through many sudden changes on Monday. It sharply grew in the morning, and suddenly dropped in the afternoon. By the end of the day the pair was right where it started. It is difficult to say what triggered such strikingly different movements, because there were not a lot of fundamental or macroeconomic events. Actually, the only event that stood out was the speech of European Central Bank President Christine Lagarde, but she gave a speech just a couple of hours ago, so it couldn't have been related to the morning and afternoon movement. Moreover, the GBP/USD pair did not show any movement today, i.e. the euro was the only one that was trading volatile and in a trend, which is also very strange. Back to Lagarde's speech, she said, as well as other representatives of the ECB's monetary committee earlier, that the rate will continue to rise and the central bank will continue to struggle with high inflation. Absolutely predictable words. The euro was able to renew its latest local high today, so technically it even restored the uptrend, but it immediately fell by 110 points. The technical picture remains complicated and confusing.

EUR/USD on M5 chart

This image is no longer relevant

There were a lot of signals on the 5-minute chart. Since there was a trend and it was quite strong, it is not surprising that almost all of the signals were accurate and profitable. However, novice traders could open only two trades. At the beginning of the day the price bounced from the level of 1.0354 and it was not entirely accurate, after that it crossed 1.0391, 1.0428, 1.0465, 1.0483. After settling below the level of 1.0465, traders could close long positions and open short ones. The profit was about 90 pips. The shorts also turned out to be profitable. In the evening, the price fell below the level of 1.0391, where the short should have been closed manually. The profit amounted to 70 points. Thus, traders managed to earn about 160 points on an "empty" Monday. An excellent result.

Trading tips on Tuesday:

The uptrend has been canceled on the 30-minute time frame, but it may resurface. The pair is gravitating towards growth, but there is no ascending trend line anymore. We witnessed both strong growth and a strong fall. In my opinion, the technical picture is very confusing. On the 5-minute chart on Tuesday, it is recommended to trade at the levels of 1.0156, 1.0221, 1.0269-1.0277, 1.0354, 1.0391, 1.0428, 1.0465, 1.0483, 1.0535. As soon as the price passes 15 pips in the right direction, you should set a Stop Loss to breakeven. There are no important reports or events in the EU or the US on Tuesday. However, there were none on Monday as well but the pair still moved in a distinct manner. Therefore, we might see something similar on Tuesday. Or at least be prepared for such developments.

Basic rules of the trading system:

1) The strength of the signal is determined by the time it took the signal to form (a rebound or a breakout of the level). The quicker it is formed, the stronger the signal is.

2) If two or more positions were opened near a certain level based on a false signal (which did not trigger a Take Profit or test the nearest target level), then all subsequent signals at this level should be ignored.

3) When trading flat, a pair can form multiple false signals or not form them at all. In any case, it is better to stop trading at the first sign of a flat movement.

4) Trades should be opened in the period between the start of the European session and the middle of the US trading hours when all positions must be closed manually.

5) You can trade using signals from the MACD indicator on the 30-minute time frame only amid strong volatility and a clear trend that should be confirmed by a trendline or a trend channel.

6) If two levels are located too close to each other (from 5 to 15 pips), they should be considered support and resistance levels.

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 trend lines 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 can be found 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 exiting 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 is the key to success in trading over a long period of time.

Paolo Greco,
ผู้เชี่ยวชาญด้านการวิเคราะห์ของ 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

บทวิเคราะห์ของทาง InstaForex จะทำให้คุณทราบถึงแนวโน้มของตลาด! ในการที่เป็นลูกค้าของทาง InstaForex นั้นคุณจะได้รับการบริการเพื่อการซื้อขายอย่างเต็มประสิทธิภาพอย่างมากมาย

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    เข้าร่วมการแข่งขัน
  • Chancy Deposit
    ฝากเงินในบัญชีของคุณใน $3,000 และรับ $10000 ไปเพิ่ม!
    ใน มกราคม ทางเราได้ออก$10000 ภายในแคมเปญ Chancy Deposit !
    คว้าโอกาสที่จะชนะด้วยการฝากเงิน $3,000 ไปในบัญชีเทรด เมื่อทำตามเงื่อนไขนี้แล้ว คุณก็จะกลายเป็นผู้เข้าร่วมแคมเปญ
    เข้าร่วมการแข่งขัน
  • เทรดให้ดีแล้วคว้ารางวัล
    เติมเงินในบัญชีของคุณอย่างน้อย $500 สมัครเข้าร่วมการแข่งขัน และลุ้นรับรางวัลอุปกรณ์ติดต่อสื่อสารแบบพกพา
    เข้าร่วมการแข่งขัน
  • โบนัส 100%
    โอกาสพิเศษของคุณในการรับโบนัส 100% จากเงินฝากของคุณ
    รับโบนัส
  • โบนัส 55%
    สมัครรับโบนัส 55% สำหรับการฝากทุกครั้ง
    รับโบนัส
  • โบนัส 30%
    รับโบนัส 30% ทุกครั้งที่คุณเติมเงินในบัญชีของคุณ
    รับโบนัส

Recommended Stories

GBP/USD outlook for January 27, 2023

GBP/USD managed to correct into the medium-term bull market zone amid a weak U.S. dollar, rising above 1.2130, 1.2240, through which important support levels pass: 200 EMA on the daily

Jurij Tolin 14:30 2023-01-27 UTC+2

Gold: new range ahead of US stats

Gold rallied in the short term and now is almost to reach the first upside obstacle. It's located at 1,930 at the time of writing but it's trapped within

Ralph Shedler 14:27 2023-01-27 UTC+2

GBP/USD: trading plan for North American session on January 27, 2023. Overview of morning trading. GBP/USD trades in narrow channel

When to open long positions on GBP/USD: In the first half of the day, no entry signals were generated. Let's take a look at the M5 chart

Miroslaw Bawulski 12:17 2023-01-27 UTC+2

EUR/USD: trading plan for American session on January 27. Analysis of morning trades. EUR unable to grow above 1.0889

In my morning article, I turned your attention to 1.0889 and recommended making decisions with this level in focus. Now, let's look at the 5-minute chart and figure out what

Miroslaw Bawulski 12:12 2023-01-27 UTC+2

Trading tips for gold

Higher-than-expected GDP growth in the US drove demand for dollar up, resulting in a correction in other assets, such as gold. Since the metal is yet to work

Andrey Shevchenko 10:40 2023-01-27 UTC+2

EUR/USD and GBP/USD: trading plan for beginners on January 27, 2023

On Thursday, the United States saw the release of the first Q4 GDP estimate. Economic growth slowed to 1.0% from 1.9%, well below the market forecast of 1.6%. These

Gven Podolsky 09:41 2023-01-27 UTC+2

GBP/USD: trading plan for European session on January 27. COT report. The pound remains in the channel, producing great signals

Yesterday, there was a great signal to enter the market. Let us take a look at the 5-minute chart to clear up the market situation. It was quiet during

Miroslaw Bawulski 09:31 2023-01-27 UTC+2

Outlook and trading signals for GBP/USD on January 27. COT report. Analysis of market situation. The pound prefers a wide flat.

GBP/USD moved mostly sideways than up or down on Thursday. If you look at the pair's movements over the past two weeks, it seems more like a flat

Paolo Greco 07:16 2023-01-27 UTC+2

Outlook and trading signals for EUR/USD on January 27. COT report. Analysis of market situation. The U.S. GDP report did not help the dollar.

EUR/USD did not show any interesting movements on Thursday. The price was still moving slightly above the critical line, and the entire movement still looks more like a flat than

Paolo Greco 07:14 2023-01-27 UTC+2

Trading plan for US dollar index on January 27, 2023

The US dollar index dropped through the 101.11 lows on Thursday, re-testing its earlier swing low of January 18, 2023, before finding bids again. The index is seen

Oscar Ton 06:34 2023-01-27 UTC+2
หากไม่สะดวกคุยในตอนนี้
ระบุคำถามไว้ได้ใน แชท.