The EUR/USD pair spent the first half of the day in an upward movement, and the second in a downward movement. As a result, the pair initially went up 45 points, and then lost exactly the same amount. The upward trend continues, although the upward trend line is no longer relevant - the price broke it a few days ago. The volatility of the currency pair remains very weak. Even a 50-point move is already seen as strong. The upward trend is also very weak, but it still persists. Traders' reactions to macroeconomic statistics are weak and rare. The European Union released its August inflation report today, which did not seem to trigger a 45-point move up. Rather, it provided support. But the second report of the day - an indicator of consumer confidence in the United States - although it turned out to be significantly worse than forecasts, did not affect the course of trading in any way. Thus, the situation on the 30-minute timeframe remains extremely inconvenient, and trading signals from the MACD indicator should be ignored.
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 again, signals from the MACD indicator should be ignored again until a new trend line or channel is formed. On a 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 Wednesday, the European Union will publish reports on unemployment and business activity in the field of manufacturing. And in the USA - reports on changes in the number of ADP workers and business activity in the manufacturing sector. Thus, there will be something to pay attention to tomorrow for novice traders. During the publication of this data, increased caution is required in opening new deals and it is desirable to set Stop Loss at breakeven (where necessary) for already opened deals.
