Analysis of Trades and Trading Advice for the Euro

The test of the 1.0215 price occurred when the MACD indicator was just starting to move downward from the zero mark, confirming a valid entry point for selling the euro. This resulted in a 20-point drop in the pair.

The US Monthly Budget Report, set to be released later today, is unlikely to attract significant interest from traders and is unlikely to strongly influence the direction of the US dollar. However, it is worth noting that substantial changes in budget performance could impact the broader economic situation. While the monthly report is not a key indicator for traders, astute analysts might use its data to evaluate future fiscal policy, which could influence economic growth. Metrics like budget deficits or surplus revenues might reveal trends that could impact taxation or government spending in the future. Long-term awareness of budget risks could affect investor confidence in the US dollar. Nevertheless, given the market's current focus on more critical data related to the labor market, GDP, and inflation, this report is likely to go unnoticed.

Regarding the intraday strategy, I will focus on implementing Scenario #1 and Scenario #2.

Buy Signal

Scenario #1: Today, buying the euro is possible if the price reaches 1.0224 (green line on the chart), aiming for growth toward 1.0274. At 1.0274, I plan to exit the market and also sell the euro for a 30–35 point pullback from the entry point. Expect euro growth only within the framework of a minor correction today.Important! Before buying, ensure the MACD indicator is above the zero mark and just starting to rise from it.

Scenario #2: I also plan to buy the euro if there are two consecutive tests of the 1.0183 price, at a time when the MACD indicator is in the oversold zone. This will limit the pair's downward potential and trigger a reversal upward. Expect growth to the opposing levels of 1.0224 and 1.0274.

Sell Signal

Scenario #1: I plan to sell the euro after the level 1.0183 (red line on the chart) is reached. The target will be 1.0133, where I plan to exit the market and immediately buy for a 20–25 point pullback. Pressure on the pair can return at any moment.Important! Before selling, ensure the MACD indicator is below the zero mark and just starting to decline from it.

Scenario #2: I also plan to sell the euro if there are two consecutive tests of the 1.0224 price, at a time when the MACD indicator is in the overbought zone. This will limit the pair's upward potential and trigger a reversal downward. Expect a decline to the opposing levels of 1.0183 and 1.0133.

On the Chart:

• Thin green line: The entry price for buying the trading instrument.
• Thick green line: The target price where Take Profit can be set, or profits can be manually fixed, as further growth above this level is unlikely.
• Thin red line: The entry price for selling the trading instrument.
• Thick red line: The target price where Take Profit can be set, or profits can be manually fixed, as further decline below this level is unlikely.
• MACD Indicator: When entering the market, it's crucial to rely on overbought and oversold zones.

Important Notes:

Beginner Forex traders should exercise caution when making market entry decisions. Before the release of important fundamental reports, it's best to stay out of the market to avoid sudden price spikes. If you decide to trade during news releases, always set stop-loss orders to minimize losses. Without stop-loss orders, you could quickly lose your entire deposit, especially if you're trading large volumes without proper money management.

Always remember that successful trading requires a clear trading plan, like the example provided above. Making spontaneous trading decisions based on the current market situation is an inherently losing strategy for intraday traders.