Forex Analysis & Reviews: 22.09.2023 - Analysis and trading tips...

22.09.2023 12:46 PM

Analysis and trading tips for EUR/USD on September 22 (US session)

Analysis of transactions and trading tips on EUR/USD

The test of 1.0647, coinciding with the decline of the MACD line from zero, prompted a sell signal, especially after the released data indicated growing problems in the European economy. According to the report, PMI remained below 50 points, signaling a contraction in activity. Only in Germany did the indicators show slight growth, but it also remained below 50 points.

As for today, PMI data in the US will come out, and they could fuel the decline in EUR/USD if the numbers exceed expectations. But if the figures turn out good, euro will have a chance to rise. Hawkish statements from FOMC members Lisa Cook and Neel Kashkari could also put pressure on the pair.

For long positions:

Buy when euro hits 1.0653 (green line on the chart) and take profit at the price of 1.0705. Growth will occur after 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 1.0626, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0653 and 1.0705.

For short positions:

Sell when euro reaches 1.0626 (red line on the chart) and take profit at the price of 1.0582. Pressure will increase in the event of strong activity in the US. 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 1.0653, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0626 and 1.0582.

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.

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*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

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