You are here: Home > articles > Forex > Analysis and trading tips for EUR/USD on June 14 (US session)
Analysis and trading tips for EUR/USD on June 14 (US session)
June 14, 2023 12:24 pmVideo
Latest News
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
- Trading Signals for Ethereum (ETH/USD) for April 30 – May 7, 2024: sell below $3,177 (21 SMA – 1/8 Murray) April 30, 2024
- Technical Analysis – Is US 100 setting course for new record highs? April 30, 2024
- EUR/USD. April 30th. Sellers await weak inflation data in the EU April 30, 2024
- GBP/USD. April 30th. Bulls continue to attack, but American reports could help the bears April 30, 2024
- Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch April 30, 2024
- Market Comment – Dollar rebounds, yen off highs after suspected intervention April 30, 2024
- Technical Analysis – Will AUDUSD exit the range again? April 30, 2024
- Technical Analysis – EURJPY seeks calmness after roller coaster day April 30, 2024
- Forex forecast 04/30/2024: EUR/USD, GBP/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 30, 2024
- USD/JPY: trading tips for beginners for European session on April 30 April 30, 2024
- GBP/USD: trading tips for beginners for European session on April 30 April 30, 2024
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 Fed’s interest rate decisions.
Key inflation data from the US will come out today, followed by the Fed’s decision on interest rates. If Powell announces a pause or the end of the rate hike cycle, euro will rise. If he does not, euro will continue to decline.
For long positions:
Buy when euro hits 1.0815 (green line on the chart) and take profit at the price of 1.0865. Growth will occur if inflationary pressures in the US slow down. 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 1.0815 and 1.0865.
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, but will not be strong even after the Fed’s interest rate decision. Nevertheless, 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 1.0815, 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 trader.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: