EUR/USD: Simple Trading Tips for Beginner Traders for September 6 (U.S. Session)

Review of trades and tips for trading the euro

The price test at 1.1107 occurred when the MACD indicator had already moved significantly below the zero mark, which I believe limited the pair's downward potential. For this reason, I did not sell the euro. In the second half of the day, we are expecting the following reports: the unemployment rate, changes in non-farm payrolls, and changes in average hourly earnings in the U.S. Reports of labor market recovery will lead to a sharp rise in the dollar and a drop in the euro. Otherwise, it is best to continue selling the dollar and betting on the strengthening of risk assets, including the euro. The speeches of FOMC members John Williams and Christopher Waller should also not be overlooked. As for the intraday strategy, I plan to act based on Scenario 1 without paying attention to the MACD indicator, as I expect significant volatility spikes.

Buy Signal

Scenario 1: Today, I plan to buy the euro when the price reaches around 1.1121 (green line on the chart) with a target of rising to 1.1166. At 1.1166, I will exit the market and sell the euro, expecting a movement of 30–35 points from the entry point. A strong upward movement in the euro can be expected today following weak U.S. data.Important: Before buying, ensure that the MACD indicator is above the zero mark and just starting to rise from it.

Scenario 2: I also plan to buy the euro today if there are two consecutive tests of the 1.1100 price level when the MACD indicator is in the oversold zone. This will limit the pair's downward potential and lead to a market reversal upward. A rise to the target levels of 1.1121 and 1.1166 can be expected.

Sell Signal

Scenario 1: I will sell the euro after reaching the 1.1100 level (red line on the chart). The target will be 1.1071, where I plan to exit the market and immediately buy the euro (expecting a movement of 20–25 points in the opposite direction from this level). Pressure on the pair will return if buyers are absent around the daily high and strong U.S. statistics are released.Important: Before selling, ensure that the MACD indicator is below the zero mark and just starting to decline from it.

Scenario 2: I also plan to sell the euro today if there are two consecutive tests of the 1.1121 price level when the MACD indicator is in the overbought zone. This will limit the pair's upward potential and lead to a market reversal downward. A decline to the target levels of 1.1100 and 1.1071 can be expected.

What is on the chart:The thin green line indicates the entry price where you can buy the trading instrument.The thick green line indicates the estimated price where you can set Take Profit or manually fix profits, as further growth above this level is unlikely.The thin red line indicates the entry price where you can sell the trading instrument.The thick red line indicates the estimated price where you can set Take Profit or manually fix profits, as further decline below this level is unlikely.MACD Indicator: It is important to consider overbought and oversold zones when entering the market.

Important: Beginner traders in the forex market need to be very cautious when making entry decisions. It is best to stay out of the market before important fundamental reports are released to avoid sharp exchange rate fluctuations. If you decide to trade during news releases, always place stop orders to minimize losses. Without stop orders, you can quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember, for successful trading, it is essential to have a clear trading plan, like the one I presented above. Spontaneous trading decisions based on the current market situation are inherently a losing strategy for intraday traders.