The EUR/USD pair tried to show movement, but nothing came of it. The volatility of the day is about 40 at one point. In addition, the pair continues to remain within the horizontal channel, while the calendar of macroeconomic events remains empty. Thus, the technical picture does not change at all on the 30-minute timeframe. For 19 trading days, quotes are traded exclusively between the levels of 1.1234 and 1.1355. Obviously, there is neither a trend nor a trend line right now. Such a movement on the eve of the New Year and Christmas holidays should not be surprising, but it has been observed not only in the last few days, but for four weeks already. And even last week's European Central Bank and Federal Reserve meetings could not get the pair out of the flat. So far, there is no reason to expect its completion anytime soon.
The pair's movements on the 5-minute timeframe were also absolutely expected and absolutely unpredictable. It was only expected that the pair would remain within the flat. However, two trading signals could have formed today, which could bring beginner traders several tens of points of profit. We are talking about the 1.1305 level, which formed yesterday after our review and is also the Monday high. The price could rebound twice from it on Tuesday. The first time it missed only a point, the second time by 4 points. However, this is a small error, and beginners could work out these "under-bounces" with short positions. The first trade would have closed at breakeven, since the price was able to go down only 17 points, which would have allowed the Stop Loss to be set to breakeven, and then returned to the level of 1.1305. The second time the rebound was not so obvious, so traders could already ignore the second signal, since there was no signal there. In general, even with such a stretch, it was not possible to make a profit. Unfortunately, now there is such a movement of the pair.
How to trade on Wednesday:
On the 30-minute timeframe, the EUR/USD pair continues to be in the horizontal channel of 1.1234-1.1355. Since a rebound followed from its lower border, we continue to expect an upward movement to the upper border. If the pair manages to overcome any of the boundaries, this may mean the emergence of a new trend, and such a signal can even be tried to work out. The key levels on the 5-minute timeframe for December 22 are 1.1186, 1.1227 - 1.1234, 1.1305, 1.1348-1.1355, 1.1422. 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 it is, then you should act according to the situation or work according to Take Profit. The European Union will not publish an important report on Wednesday. In America, only a secondary in its essence report on GDP for the third quarter will be released. The report itself is important, but this will be its third assessment, thus, it is simply unlikely to surprise the markets with anything.
