The EUR/USD pair continued to trade very calmly on Monday. In principle, this movement is called a flat. Moreover, it does not even make sense to try to work out this type of flat, since volatility was 27 points. We would like to remind you that the minimum Take Profit for any trade is 30 points. Thus, even theoretically, it was practically impossible to make money today. The weakness of the movement is especially clearly visible on the 30-minute timeframe. In addition, the price settled below the upward trend line on Friday, so now it is no longer relevant, although the upward trend is formally still preserved. However, along with this, traders did not manage to overcome the level of 1.1805. Thus, the overall upward movement is very weak. No important report published either in the European Union or in the United States either. Thus, we have a completely "empty" Monday.
The picture of the pair's movements on the 5-minute timeframe was as simple as possible. Novice traders can clearly see how the pair traded all day in the chart above. When it takes almost an entire trading session to form one trading signal, the pair clearly has problems. However, despite the flat, three trading signals were generated. Everything is for short positions, and everything is near the 1.1802 level. Thus, novice traders could still open one short position today. As a result, a short could be closed either manually at minimum profit, or by Stop Loss, which should have been set to breakeven, since the price went down as a result of 15 points. Thus, in any case, today there were no losses, which is very good.
Trading tips for Tuesday:
The EUR/USD pair continues to be in an upward trend on the 30-minute timeframe, but the trend line is broken, and the upward movement itself is very weak. Since there is no actual trend line now, the signals from the MACD indicator should be ignored until a new trend line or channel is formed. Overcoming the level of 1.1805 can be used as a signal, but a similar signal will be formed earlier and at the lowest TF. In the 5-minute timeframe, it is recommended to trade from the levels of 1.1756, 1.1779, 1.1802, 1.1831, 1.1851. Take Profit, as before, is set at a distance of 30-40 points. Stop Loss - to breakeven when the price passes in the right direction by 15 points. At the 5M TF, the target can be the nearest level if it is not too close or too far away. If located - then you should act according to the situation. On Tuesday, the European Union will publish a rather important report on inflation for August, which may move the pair's quotes from their place. Thus, in the morning one can expect a stronger movement than on Monday. There will be no important macroeconomic publications in the second half of the day, so there is not much to count on.
