empty
 
 
24.05.2022 12:00 PM
Analysis and trading tips for EUR/USD on May 24

Analysis of transactions in the EUR / USD pair

EUR/USD reaching 1.0624 led to a buy signal in the market. Coincidentally, the MACD line was just starting to move above zero, so the pair rose by 50 pips. It hit 1.0673, where sellers became active and worked for a rebound. As such, a correction of about 20 pips took place. No other signal appeared for the rest of the day.

This image is no longer relevant

Data on Germany's business environment, present situation and economic expectations were missing yesterday, so there was nothing much for traders to rely on. But euro did get support from rumors that the ECB may decide on more aggressive rate hikes at the next monetary policy meetings. Talks that the Fed may further postpone rate increases starting September also put pressure on the dollar and raised risk appetite.

Today, a fairly large number of statistics on the eurozone will be released, and these are business activities in the manufacturing and services sector, as well as the composite PMI of the whole Euro area. There will also be another interview with ECB President Christine Lagarde. In the afternoon, similar reports from the US will be published, which, if shows even a slight slowdown in growth, will negatively affect the dollar. By the middle of the American session, an interview with Fed Chairman Jerome Powell will take place, and this may shed light on the situation with interest rates. Data on the volume of home sales in the US primary market will have little to no effect on the market.

For long positions:

Buy euro when the quote reaches 1.0689 (green line on the chart) and take profit at the price of 1.0725 (thicker green line on the chart). There is a chance for a rally today, but only after very good data on economic activity. Nevertheless, make sure that when buying, the MACD line is above zero or is starting to rise from it. It is also possible to buy at 1.0661, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0689 and 1.0725.

For short positions:

Sell euro when the quote reaches 1.0661 (red line on the chart) and take profit at the price of 1.0620. Pressure will return if there is no bullish activity in the pair after good statistics on economic activity. However, note that when selling, make sure that the MACD line is below zero, or is starting to move down from it. Euro can also be sold at 1.0689, but the MACD line should be in the overbought area, as only by that will the market reverse to 1.0661 and 1.0620.

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 decisions based on the current market situation is an inherently losing strategy for an intraday trader.

Jakub Novak,
Chuyên gia phân tích của InstaForex
© 2007-2024
Kiếm lợi nhuận từ những biến đổi giá của tiền điện tử với InstaForex.
Tải MetaTrader 4 và mở giao dịch đầu tiên của bạn.
  • 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 $8000 nhiều hơn!
    Trong Tháng 3 chúng tôi xổ $8000 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

Các bài báo được đề xuất

Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.
Widget callback