empty
16.01.2023 07:16 AM
Analysis and trading tips for EUR/USD on January 16

Friday's lack of statistics limited the upside potential of EUR/USD, but did not change the bullish dynamics of markets. Apparently, buyers are firm on continuing the upward movement of euro, and good economic statistics are what they are waiting for.

Today, Germany is set to release data on its import prices, which is likely to lead to a surge in volatility. Meanwhile, in the US, citizens are celebrating Martin Luther King Day, so trading volume will be low, which will limit the further upside potential of the pair.

This image is no longer relevant

For long positions:

Buy euro when the quote reaches 1.0877 (green line on the chart) and take profit at the price of 1.0957. There is a chance for growth today as there is positive market sentiment. But before buying, make sure that the MACD line is above zero or is starting to rise from it. Euro can also be bought at 1.0818, however, the MACD line should be in the oversold area as only by that will the market reverse to 1.0877 and 1.0957.

For short positions:

Sell euro when the quote reaches 1.0818 (red line on the chart) and take profit at the price of 1.00738. Pressure will return if the attempt to consolidate at weekly highs fails. But take note that when selling, the MACD line should be below zero or is starting to move down from it. Euro can also be sold at 1.0877, however, the MACD line should be in the overbought area, as only by that will the market reverse to 1.0818 and 1.0738.

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.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Simple Trading Tips for Beginner Traders on July 9th. Review of Yesterday's Forex Trades

Trade Review and GBP/USD Strategy The test of the 1.3571 level occurred when the MACD indicator had already moved significantly below the zero line, limiting the pair's downward potential

Jakub Novak 09:27 2025-07-09 UTC+2

EUR/USD: Simple Trading Tips for Beginners on July 9th. Review of Yesterday's Forex Trades

Trade Review and EUR/USD Strategy The test of the 1.1732 level coincided with the MACD indicator having already moved significantly below the zero line, which limited the pair's downward potential

Jakub Novak 09:20 2025-07-09 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 8th (U.S. Session)

Trade Analysis and Recommendations for the Japanese Yen The price test at 146.19 occurred at the moment when the MACD indicator had just started to move downward from the zero

Jakub Novak 12:59 2025-07-08 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 8th (U.S. Session)

Trade Analysis and Recommendations for the British Pound The price test at 1.3621 coincided with the MACD indicator just beginning to move downward from the zero line, which confirmed

Jakub Novak 12:55 2025-07-08 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 8th (U.S. Session)

Trade Analysis and Recommendations for the Euro The price test at 1.1751 coincided with the MACD indicator just beginning to move upward from the zero line, which confirmed the validity

Jakub Novak 12:53 2025-07-08 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 8th. Analysis of Yesterday's Forex Trades

Trade Analysis and Tips for Trading the Japanese Yen The test of the 145.62 level occurred when the MACD indicator had already moved significantly above the zero line, which limited

Jakub Novak 12:09 2025-07-08 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 8. Analysis of Yesterday's Forex Trades

Trade Analysis and Tips for Trading the British Pound The test of the 1.3614 level occurred when the MACD indicator had already moved significantly above the zero mark, which limited

Jakub Novak 11:56 2025-07-08 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 8. Analysis of Yesterday's Forex Trades

Trade Analysis and Tips for Trading the Euro The test of the 1.1718 level occurred when the MACD indicator had just started to move downward from the zero mark, which

Jakub Novak 11:51 2025-07-08 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders for July 7th (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The price test at 145.10 occurred when the MACD indicator had already moved far above the zero mark, limiting the pair's

Jakub Novak 19:52 2025-07-07 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders for July 7th (U.S. Session)

Trade Review and Tips for Trading the British Pound The price test at 1.3608 occurred when the MACD indicator had just begun to move down from the zero level, which

Jakub Novak 19:26 2025-07-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.