empty
 
 

Forex Analysis & Reviews: Analysis and trading tips for EUR/USD on December 2
time 02.12.2022 10:24 AM
time Relevance up to, 03.12.2022 09:19 AM

Analysis of transactions in the EUR / USD pair

Although the test of 1.0416, which occurred when the MACD line was just starting to move below zero, kicked off a sell signal, euro fell by only 15 pips, leading to losses. Buying at 1.0455 was also not good because the MACD line was up above zero that time. Only the sell-offs from 1.0515 in the afternoon produced a good result, that is, an over 30 pips price decrease, which offset the losses in the morning.

This image is no longer relevant

Very weak manufacturing activity in the eurozone led to a sell signal, which turned out wrong and ushered in losses. Then, in the afternoon, similar weak manufacturing data in the US caused a sharp fall in dollar, continuing the bullish trend in EUR/USD.

Germany's trade balance figures are expected today, as well as the Eurozone producer price index. If both data indicate that inflation is falling, euro could halt growth, but it will not change the current trend. In the afternoon, the US will release reports on the unemployment rate and non-farm payrolls, which could make dollar dip again. Average hourly wage and the labor force participation rate will also have an impact on the market, as will the speech of FOMC member Charles Evans. If the labor market data comes out much better than expected, the dollar will rise, but it will not last very long.

For long positions:

Buy euro when the quote reaches 1.0549 (green line on the chart) and take profit at the price of 1.0600. Growth could occur after a weak US labor market report. 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 1.0513, however, the MACD line should be in the oversold area as only by that will the market reverse to 1.0549 and 1.0600.

For short positions:

Sell euro when the quote reaches 1.0513 (red line on the chart) and take profit at the price of 1.0471. Pressure will return if statistics in the Euro area are weaker than expected. 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 1.0549, however, the MACD line should be in the overbought area, as only by that will the market reverse to 1.0513 and 1.0471.

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,
Chuyên gia phân tích của 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 analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $1000 nhiều hơn!
    Trong Tháng 02 chúng tôi xổ $1000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

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

EUR/JPY accumulates more bullish energy

The EUR/JPY pair is moving sideways in the short term. Escaping from the current range could bring us new opportunities. Now, it stands at 141.44 far above today's

Ralph Shedler 21:10 2023-01-31 UTC+2

Gold towards new lows against USD

XAU/USD crashed in the short term as the USD appreciated versus its rivals. Now, it's trading at 1,914. Technically, the yellow metal escaped from a distribution pattern, so more declines

Ralph Shedler 08:52 2023-01-31 UTC+2

Analysis and trading tips for GBP/USD on January 31

Analysis of transactions and tips for trading GBP/USD Pound tested 1.2374, but the MACD line was already far from zero, so the downside potential was limited. Sometime later, another test

Jakub Novak 07:39 2023-01-31 UTC+2

Analysis and trading tips for EUR/USD on January 31

The test of 1.0885 occurred when the MACD line was just starting to move above zero, which was a pretty good signal to buy. This resulted in a price increase

Jakub Novak 07:36 2023-01-31 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.