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FX.co ★ Analysis and trading tips for EUR/USD on September 27

Analysis and trading tips for EUR/USD on September 27

Analysis of transactions in the EUR / USD pair

Data on Germany's business environment, present situation and economic expectations disappointed traders, as a result of which the upside potential of the euro became limited. The speeches of the ECB members were also ignored by markets as they did not contain anything new.

But this morning, pressure is unlikely to be seen on euro if ECB President Christine Lagarde does not say something new and interesting. Only in the afternoon will a decline occur, when the US releases data on durable goods orders, consumer confidence and home sales in the primary market. Good numbers in these indicators will certainly strengthen the dollar because despite the Fed's aggressiveness, it will allow the economy to survive more steadfastly. Aggressive tones of Fed Chairman Jerome Powell and FOMC member Charles Evans will also prompt a fall in euro and a rise in dollar.

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Analysis and trading tips for EUR/USD on September 27

For long positions:

Buy euro when the quote reaches 0.9664 (green line on the chart) and take profit at the price of 0.9706. However, growth is unlikely, especially if the Euro area reports weak economic statistics, while the US has better-than-expected reports.

Take note that when buying, the MACD line should be above zero or is starting to rise from it. Euro can also be bought at 0.9634, but the MACD line should be in the oversold area as only by that will the market reverse to 0.9664 and 0.9706.

For short positions:

Sell euro when the quote reaches 0.9634 (red line on the chart) and take profit at the price of 0.9585. Pressure may return after the speeches of ECB and Fed representatives.

Take note that when selling, the MACD line should be below zero or is starting to move down from it. Euro can be sold at 0.9664, but the MACD line should be in the overbought area as only by that will the market reverse to 0.9634 and 0.9585.

What's on the chart:

The thin green line is the key level at which you can place long positions in the EUR/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the EUR/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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