empty
17.03.2025 06:23 PM
EUR/USD: Simple Trading Tips for Beginner Traders – March 17th (U.S. Session)

Trade Analysis and Recommendations for the Euro

The test of the 1.0873 level occurred when the MACD indicator had just started moving downward from the zero mark, confirming a valid entry point for selling. However, the expected decline did not materialize, leading to a stop-out and loss.

The euro found support due to the absence of economic data from the Eurozone. Traders took advantage of this information vacuum to push the single currency higher. A technical factor also played a role, as the upward trend and the ECB's cautious stance contributed to the bullish sentiment.

Later today, the focus will shift to U.S. economic data, particularly the retail sales report, which is a key indicator of consumer spending, a major driver of the U.S. economy. Additionally, the Empire Manufacturing Index will be released, providing insights into the manufacturing sector in New York State. While this index covers only one region, it can offer clues about broader industrial trends in the U.S..

Another important release is the NAHB Housing Market Index, which measures builder confidence in the housing market. Taken together, these reports will help provide a clearer picture of the current U.S. economic situation.

For intraday trading, I will focus on Scenario #1 and Scenario #2.

This image is no longer relevant

Buy Signal

Scenario #1: Buy EUR/USD at 1.0930 (green line on the chart), targeting a rise to 1.0977. At 1.0977, I plan to exit long positions and open short trades, anticipating a 30-35 point pullback. The trend remains bullish, so a continuation of the uptrend is likely.

Important! Before buying, confirm that the MACD indicator is above the zero mark and beginning to rise.

Scenario #2: I will also consider buying EUR/USD if the price tests 1.0893 twice, with the MACD indicator in the oversold zone. This will limit the pair's downward potential and lead to a reversal to the upside, with expected targets at 1.0930 and 1.0977.

Sell Signal

Scenario #1: Sell EUR/USD after it breaks below 1.0893 (red line on the chart). The target is 1.0834, where I will exit short positions and open long trades for a 20-25 point rebound. Bearish pressure could return if U.S. data strengthens the dollar.

Important! Before selling, confirm that the MACD indicator is below the zero mark and beginning to decline.

Scenario #2: I will also consider selling EUR/USD if the price tests 1.0930 twice, with the MACD indicator in the overbought zone. This will limit the pair's upward potential and lead to a market reversal downward, with expected targets at 1.0893 and 1.0834.

This image is no longer relevant

Chart Key:

  • Thin green line – Entry price for buying.
  • Thick green line – Expected target for Take Profit or manual profit-taking, as further upside beyond this level is unlikely.
  • Thin red line – Entry price for selling.
  • Thick red line – Expected target for Take Profit or manual profit-taking, as further downside beyond this level is unlikely.
  • MACD Indicator – Always consider overbought and oversold conditions when entering the market.

Important Notes for Beginner Forex Traders:

Making trading decisions requires extreme caution. Avoid entering the market before key fundamental reports, as sudden price swings can lead to significant losses.

If you choose to trade during news releases, always use stop-loss orders to limit potential losses. Trading without stop-losses can quickly wipe out your entire deposit, especially if you trade large volumes without proper risk management.

For successful trading, you need a clear and structured trading plan, similar to the one outlined above. Making impulsive decisions based on short-term price movements is a losing strategy for intraday traders.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on April 9. Review of Yesterday's Forex Trades

The test of the 147.13 price level occurred just as the MACD indicator began moving upward from the zero line, confirming a valid entry point for buying the dollar

Jakub Novak 08:45 2025-04-09 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 9. Review of Yesterday's Forex Trades

The test of the 1.2786 price level occurred when the MACD indicator had already moved significantly above the zero line, which limited the pair's upside potential. The second test

Jakub Novak 08:44 2025-04-09 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 9. Review of Yesterday's Forex Trades

The first test of the 1.0913 price level occurred when the MACD indicator moved significantly below the zero line, limiting the pair's downside potential. For this reason

Jakub Novak 08:44 2025-04-09 UTC+2

Intraday Strategies for Beginner Traders on April 9

The euro and the pound held their ground under renewed selling pressure and even posted slight gains during today's Asian session. Yesterday's weak data from the NFIB Small Business Optimism

Miroslaw Bawulski 08:09 2025-04-09 UTC+2

EUR/USD. Analysis and Forecast

The EUR/USD pair has been trying to regain positive momentum for the second consecutive day, halting the recent pullback from the monthly high levels last seen in September. From

Irina Yanina 19:44 2025-04-08 UTC+2

USD/JPY: Simple trading tips for beginner traders on April 8th (U.S. session)

Trade breakdown and trading tips for the Japanese yen The test of the 147.47 level occurred when the MACD indicator had just begun to move downward from the zero line

Jakub Novak 19:42 2025-04-08 UTC+2

GBP/USD: Simple trading tips for beginner traders on April 8th (U.S. session)

Trade breakdown and trading tips for the British pound The test of the 1.2792 level occurred at a moment when the MACD indicator had already moved far above the zero

Jakub Novak 19:39 2025-04-08 UTC+2

EUR/USD: Simple trading tips for beginner traders on April 8th (U.S. session)

Trade breakdown and tips for trading the euro The test of the 1.0984 level coincided with the moment when the MACD indicator had already moved far above the zero line

Jakub Novak 19:37 2025-04-08 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on April 8. Review of Yesterday's Forex Trades

The price test at 146.93 occurred when the MACD indicator had already moved far above the zero line, which limited the pair's upward potential. The second test of 146.93 coincided

Jakub Novak 09:02 2025-04-08 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 8. Review of Yesterday's Forex Trades

The price test of 1.2793 occurred when the MACD indicator moved significantly below the zero mark, limiting the pair's downside potential. A second test of 1.2793 while MACD

Jakub Novak 09:02 2025-04-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.