empty
 
 

Forex Analysis & Reviews: Analysis and trading tips for EUR/USD on December 7
time 07.12.2022 11:45 AM
time Relevance up to, 08.12.2022 09:21 AM

Analysis of transactions in the EUR / USD pair

The test of 1.0504 occurred when the MACD line was just starting to move above zero, which was a good reason to buy. However, the euro did not increase, so purchases led to losses. A similar situation happened in the afternoon, when the retest of the level took place just when the MACD was at the overbought area. It seemed to be a great signal to sell the euro, but the price continued to rise, leading to another loss.

This image is no longer relevant

Germany's manufacturing orders data and the Eurozone's construction PMI had little impact on the market yesterday morning. The actual reason for euro's brief increase was the news that China might lift some of its Covid-related restrictions, but this did not raise risk appetite much.

Today, Germany will release its report on industrial production, followed by the Euro area's GDP data and employment figures. If all three disappoints, another round of sell-offs is likely to occur, which will continue euro's correction. Speeches by ECB Board members Philip Lane and Fabio Panetta are also unlikely to support euro.

There is nothing scheduled in the afternoon that will have a significant impact on the market. Changes in US non-manufacturing labor productivity and labor costs are of little interest.

For long positions:

Buy euro when the quote reaches 1.0478 (green line on the chart) and take profit at the price of 1.0532. Growth will occur when economic reports on the Euro area exceed expectations. But remember that when buying, the MACD line should be above zero or is starting to rise from it.

Euro can also be bought at 1.0444; however, the MACD line should be in the oversold area as only by that will the market reverse to 1.0478 and 1.0532.

For short positions:

Sell euro when the quote reaches 1.0444 (red line on the chart) and take profit at the price of 1.0397. Pressure will remain if statistics in the Euro area disappoints. But take note that when selling, the MACD line should be below zero or is starting to move down from it.

Euro can also be sold at 1.0478; however, the MACD line should be in the overbought area, as only by that will the market reverse to 1.0444 and 1.0397.

This image is no longer relevant

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,
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 $1000 ไปเพิ่ม!
    ใน กุมภาพันธ์ ทางเราได้ออก$1000 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: simple tips for novice traders on February 8. Analysis of yesterday trades

A test of 1.2033 occurred at a time when the MACD indicator had just started to move down from the zero level. It gave an excellent entry point into short

Jakub Novak 07:49 2023-02-08 UTC+2

Analysis and trading tips for EUR/USD on February 8

Analysis of transactions and tips for trading EUR/USD The downside potential was limited because the test of 1.0728 occurred at a time when the MACD line had already moved

Jakub Novak 07:47 2023-02-08 UTC+2

GBPUSD simple trading tips for beginners on February 7, 2023. Overview of yesterday's trades

GBP/USD overview of trades and trading tips The pound is very likely to continue its decline. In the first half of the day, the UK will publish the Halifax house

Jakub Novak 08:10 2023-02-07 UTC+2

Analysis and trading tips for EUR/USD on February 7

Analysis of transactions and tips for trading EUR/USD Euro slumped further, continuing the bear market that emerged after the strong US labor market data last Friday. And since there

Jakub Novak 08:07 2023-02-07 UTC+2

Analysis and trading tips for GBP/USD on February 3

Pound tested 1.2364 when the MACD line was just starting to move below zero, which was a pretty good signal to sell. This resulted in a decrease of about

Jakub Novak 08:21 2023-02-03 UTC+2

Analysis and trading tips for EUR/USD on February 3

When euro first tested 1.0982, the MACD line was already far from zero, so the downside potential was limited. But a short time later, on the second test, the MACD

Jakub Novak 08:18 2023-02-03 UTC+2

Analysis and trading tips for GBP/USD on February 2

Analysis of transactions and tips for trading GBP/USD Pound tested 1.2329 when the MACD line was already far from zero, so the upside potential was limited. Sometime later, another test

Jakub Novak 07:49 2023-02-02 UTC+2

Analysis and trading tips for EUR/USD on February 2

Analysis of transactions and tips for trading EUR/USD Euro tested 1.0882 when the MACD line was already far from zero, so the upside potential was limited. No other signals appeared

Jakub Novak 07:47 2023-02-02 UTC+2

Analysis and trading tips for GBP/USD on February 1

Analysis of transactions and tips for trading GBP/USD Pound tested 1.2330 just when the MACD line was starting to move below zero, which was a pretty good reason to sell

Jakub Novak 06:37 2023-02-01 UTC+2

Analysis and trading tips for EUR/USD on February 1

The test of 1.0834 occurred when the MACD line was just starting to move below zero, which was a pretty good signal to sell. Accordingly, it resulted in a price

Jakub Novak 06:36 2023-02-01 UTC+2
หากไม่สะดวกคุยในตอนนี้
ระบุคำถามไว้ได้ใน แชท.