You are here: Home > articles > Forex > Analysis and trading tips for EUR/USD on August 14 (US session)
Analysis and trading tips for EUR/USD on August 14 (US session)
August 14, 2023 12:24 pmVideo
Latest News
- Technical Analysis – USDJPY plummets after 34-year high of 160.20 April 29, 2024
- EUR/USD. April 29th. The bulls continue to advance April 29, 2024
- GBP/USD. April 29th. Bulls find it extremely difficult to move upwards, but this week could change everything April 29, 2024
- Market Comment – Yen spikes on suspected intervention; big week awaits the dollar April 29, 2024
- Forex forecast 04/29/2024: EUR/USD, GBP/USD, USD/JPY, EUR/JPY, GBP/JPY and BTC from Sebastian Seliga April 29, 2024
- Federal Reserve encounter troubles April 29, 2024
- Technical Analysis – EURUSD attempts recovery from 5-month low April 29, 2024
- USD/JPY: trading tips for beginners for European session on April 29 April 29, 2024
- EUR/USD: trading tips for beginners for European session on April 29 April 29, 2024
- Video market update for April 29, 2024 April 29, 2024
- Technical Analysis – US 500 cash index is in the green ahead of the Fed April 29, 2024
- Technical Analysis – Gold weakens its momentum April 29, 2024
- Forecast for EUR/USD on April 29, 2024 April 29, 2024
- Forecast for GBP/USD on April 29, 2024 April 29, 2024
- Forecast for USD/JPY on April 29, 2024 April 29, 2024
- Key events on April 29: fundamental analysis for beginners April 29, 2024
- Trading plan for GBP/USD on April 29. Simple tips for beginners April 29, 2024
- Trading plan for EUR/USD on April 29. Simple tips for beginners April 29, 2024
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
Analysis of transactions and trading tips on EUR/USD
The test of 1.0946 in the morning, coinciding with the rise of the MACD line from zero, prompted a buy signal that led to a price increase of around 15 pips. However, pressure quickly returned to market after the brief upward movement.
The empty macroeconomic calendar will likely continue the pressure on the pair, extending the price decline during the US trading session.
For long positions:
Buy when euro hits 1.0956 (green line on the chart) and take profit at the price of 1.0981. Growth will occur, but it will not be very strong.
When buying, ensure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0929, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0956 and 1.0981.
For short positions:
Sell when euro reaches 1.0929 (red line on the chart) and take profit at the price of 1.0895. Pressure will increase in the absence of activity at daily highs. However, when selling, 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 1.0956, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0929 and 1.0895.
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 trader.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: