The EUR/USD pair continued to trade in a narrow price range on Monday. Not even in the 1.1234-1.1355 horizontal channel, but in the horizontal channel within the horizontal channel. For two days in a row, the volatility of the pair does not exceed 40 points, and the quotes are between the levels of 1.1302 and 1.1345. We have not applied these levels to the chart, as they will only complicate the analysis of the technical picture. In general, the pair continues to remain inside the horizontal channel, and this is the main thing. This means that the pair remains flat, and the markets do not find a compelling reason to actively trade the pair in the pre-holiday week. Needless to say, no macroeconomic statistics were published on Monday? There was also no fundamental background. There was also no movement of the pair. Thus, novice traders should clearly understand that now is not the best time to open any positions.
On the 5-minute timeframe, the pair's movements on Monday were as eloquent and boring as possible. In the chart above, you can clearly see that the price has been between the levels of 1.1290 and 1.1342 all day, without even trying to get close to any of them. Thus, not a single trading signal was generated on Monday. It is for the better, since many false signals could be formed with such a movement, which, of course, is not necessary for novice traders and traders in general. Thus, we can only draw conclusions that have already been drawn. You have to wait. Wait for the end of the holidays, wait for the end of the flat, wait for fundamental events, wait for macroeconomic reports. Most likely, all this will return to the market next year. However, in any case, we have a technical analysis and if something changes, beginners can always react quickly to changes.
How to trade on Tuesday:
On the 30-minute timeframe, the EUR/USD pair continues to be in the horizontal channel of 1.1234-1.1355. There was no rebound from the upper border of this channel, so a sell signal was not received. The pair can move as they please this week. Most likely, the movement will be within the channel, but even within the channel the movements can be as random as possible. The key levels on the 5-minute timeframe for December 28 are 1.1262, 1.1290, 1.1342-1.1355, 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. No interesting report in the European Union or in America on Tuesday. There will be only a few minor ones, which are unlikely to somehow affect the course of trading.
