10.07.202414:07 Forex Analysis & Reviews: EUR/USD: Simple trading tips for beginner traders on July 10th (US session)

Analysis of Trades and Tips for Trading the EuroDue to low market volatility, the designated levels I mentioned were not tested. The absence of Eurozone statistics played its part. Unfortunately, the second half of the day may follow the same pattern, even despite the planned speech by Fed Chairman Jerome Powell. His speech will be identical to what we heard yesterday, so we won't learn anything new. Data on changes in wholesale inventory levels in the US and the speech by FOMC member Michelle Bowman are unlikely to change the situation. Therefore, it's better to trade within the channel and not count on strong volatility in the pair. Regarding the intraday strategy, I plan to act based on the realization of Scenario #2.

Buy SignalScenario #1: I plan to buy the euro when the price reaches around 1.0835 (green line on the chart) to rise to the 1.0879 level. At 1.0879, I will exit the market and sell the euro in the opposite direction, expecting a movement of 30-35 points from the entry point. A strong upward movement in the euro today is unlikely. Important: Before buying, ensure the MACD indicator is above the zero mark and starting to rise from it.Scenario #2: I also plan to buy the euro today in case of two consecutive tests of the price of 1.0805 at a time when the MACD indicator is in the oversold area. This will limit the pair's downward potential and lead to a market reversal upwards. Growth can be expected to the opposite levels of 1.0835 and 1.0879.Sell SignalScenario #1: I will sell the euro after reaching the 1.0805 level (red line on the chart). The target will be the 1.0770 level. I plan to exit the market and buy the euro immediately in the opposite direction (expecting a movement of 20-25 points in the opposite direction from the level). Pressure on the pair will return if there is an unsuccessful attempt to go beyond the daily high. Important: Before selling, ensure the MACD indicator is below the zero mark and starting to decline from it.Scenario #2: I also plan to sell the euro today in case of two consecutive tests of the price of 1.0835 at a time when the MACD indicator is in the overbought area. This will limit the pair's upward potential and lead to a downward market reversal. A decline can be expected to the opposite levels of 1.0805 and 1.0770.Chart Details:

• Thin Green Line: Entry price for buying the trading instrument.
• Thick Green Line: Expected price where you can place Take Profit or manually fix profits, as further growth above this level is unlikely.
• Thin Red Line: Entry price for selling the trading instrument.
• Thick Red Line: Expected price where you can place Take Profit or manually fix profits, as further decline below this level is unlikely.
• MACD Indicator: When entering the market, it is important to consider overbought and oversold areas.

Important. Novice Forex traders need to make decisions about entering the market very carefully. Before the release of important fundamental reports, it is best to stay out of the market to avoid falling into sharp fluctuations in the exchange rate. If you decide to trade during the news release, always place stop orders to minimize losses. You must set stop orders to avoid losing your entire deposit, especially if you don't use money management and trade large volumes.Remember, to trade successfully, you need a clear trading plan, like the one presented above. Making spontaneous trading decisions based on the current market situation is initially a losing strategy for an intraday trader.