FX.co ★ Analysis and trading tips for EUR/USD on September 27 (US session)

Analysis of transactions and trading tips on EUR/USD

Further growth became limited because the first test of 1.0572 coincided with the time when the MACD line lies within the overbought area. The second test, on the other hand, prompted a sell signal that led to a price decrease of nearly 20 pips.

Disappointing lending data in the eurozone kept pressure on the pair. It may exacerbate if the upcoming report on durable goods orders in the US shows an increase. But if the figures turn out to be exceptionally poor, buyers will have a chance for growth. Statements made by FOMC member Neel Kashkari may also contribute to the decline.

For long positions:

Buy when euro hits 1.0571 (green line on the chart) and take profit at the price of 1.0606. Growth will occur within the framework of an upward correction, following weak data from the US. However, 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 1.0546, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0571 and 1.0606.

For short positions:

Sell when euro reaches 1.0546 (red line on the chart) and take profit at the price of 1.0513. Pressure may return in the case of strong US statistics. 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 1.0571, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0546 and 1.0513.

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.