coinciding with the significant rise of the MACD line from zero

The test of 1.0798, coinciding with the significant rise of the MACD line from zero, limited the upward potential of the pair. Clearly, market players preferred not to force events amid low volatility ahead of important data and mixed ZEW indicators Key inflation data from the US will come out today. A decline in the figure will continue the upward trend, while a similar or worse-than-expected data will allow traders to buy euro on a dip. Do not consider selling EUR/USD in the current conditions.

 

 

For long positions:

Buy when euro hits 1.0803 (green line on the chart) and take profit at the price of 1.0853. Growth could occur amid a slowdown in US inflationary pressures. However, before buying, traders should make sure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0773, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0803 and 1.0853.

 

For short positions:

Gold Trading Analysis: Technical Signals and Price Movements

EUR/USD Analysis: Key Levels and Trading Strategies Amid Market Volatility and US Inflation Data

InstaForex Analysis InstaForex Analysis 13.06.2023 14:14
The test of 1.0798, coinciding with the significant rise of the MACD line from zero, limited the upward potential of the pair. Clearly, market players preferred not to force events amid low volatility ahead of important data and mixed ZEW indicators Key inflation data from the US will come out today. A decline in the figure will continue the upward trend, while a similar or worse-than-expected data will allow traders to buy euro on a dip. Do not consider selling EUR/USD in the current conditions.     For long positions: Buy when euro hits 1.0803 (green line on the chart) and take profit at the price of 1.0853. Growth could occur amid a slowdown in US inflationary pressures. However, before buying, traders should make sure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0773, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0803 and 1.0853.   For short positions: Sell when euro reaches 1.0773 (red line on the chart) and take profit at the price of 1.0735. Pressure will return after a sharp increase in US prices. However, before selling, traders should make sure that the MACD line lies below zero or drops down from it. Euro can also be sold after two consecutive price tests of 1.0803, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0773 and 1.0735.     What's on the chart: Thin green line - entry price at which you can buy EUR/USD Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely. Thin red line - entry price at which you can sell EUR/USD Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely. MACD line- it is important to be guided by overbought and oversold areas when entering the market   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 trade.  

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