empty
10.04.2025 06:49 AM
How to Trade the EUR/USD Pair on April 10? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades

1H Chart of EUR/USD

This image is no longer relevant

The EUR/USD currency pair showed strong growth and decline on Wednesday. Lately, both moves have been triggered by Donald Trump. First, news broke that the U.S. was imposing additional tariffs on China, raising the total rate to an astronomical 104%. Then Trump decided to push it further to 125% (apparently to avoid half-measures) but introduced a 90-day grace period for all other countries, during which a 10% tariff would apply to all imports.

The first announcement pointed to an escalation in the trade war, while the second eased tensions slightly and gave rise to hopes of negotiations and a softer resolution to the trade conflict. However, these "Trump discounts" are unlikely to lead to a strong dollar rally since tariffs remain in place and Trump continues to play his cards in any way he sees fit. From the outside, it looks absurd to impose tariffs and then offer a discount on tariffs.

5M Chart of EUR/USD

This image is no longer relevant

On the 5-minute chart, three trading signals were formed during the day on Wednesday, not counting the sharp evening moves triggered again by Trump. The price bounced three times off the 1.1011 and 1.1091 levels, and the nearest target was hit in each case. Given the strong intraday volatility, novice traders could have made around 150 pips from just these three trades.

Trading Strategy for Thursday:

In the 1-hour timeframe, the EUR/USD pair is still in an uptrend. It's uncertain how long this will continue, as no one can predict how many additional tariffs Trump may introduce. Multiple escalations in the trade war are possible since many countries are preparing mirrored responses to U.S. actions. Trump has already stated that any retaliation will provoke further U.S. tariffs. Due to Trump's "discounts," the dollar may strengthen slightly but not significantly, as nothing has fundamentally changed.

On Thursday, markets will likely remain in shock. We won't attempt to predict price movements, as trade-related headlines appear almost every two hours. What's happening in the global markets right now is difficult to describe.

On the 5-minute chart, consider the following levels: 1.0596, 1.0678, 1.0726–1.0733, 1.0797–1.0804, 1.0859–1.0861, 1.0888–1.0896, 1.0940–1.0952, 1.1011, 1.1091, 1.1132–1.1140, 1.1189–1.1191, 1.1275–1.1292.

On Thursday, traders should watch the U.S. inflation report, which currently carries limited significance for market participants. The trade war headlines will remain the top priority.

Core Trading System Rules:

  1. Signal Strength: The shorter the time it takes for a signal to form (a rebound or breakout), the stronger the signal.
  2. False Signals: If two or more trades near a level result in false signals, subsequent signals from that level should be ignored.
  3. Flat Markets: In flat conditions, pairs may generate many false signals or none at all. It's better to stop trading at the first signs of a flat market.
  4. Trading Hours: Open trades between the start of the European session and the middle of the US session, then manually close all trades.
  5. MACD Signals: On the hourly timeframe, trade MACD signals only during periods of good volatility and a clear trend confirmed by trendlines or trend channels.
  6. Close Levels: If two levels are too close (5–20 pips apart), treat them as a support or resistance zone.
  7. Stop Loss: Set a Stop Loss to breakeven after the price moves 15 pips in the desired direction.

Key Chart Elements:

Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders.

Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading.

MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals.

Important Events and Reports: Found in the economic calendar, these can heavily influence price movements. Exercise caution or exit the market during their release to avoid sharp reversals.

Forex trading beginners should remember that not every trade will be profitable. Developing a clear strategy and practicing proper money management are essential for long-term trading success.

Paolo Greco,
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: Trading Plan for the U.S. Session on April 25th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3310 level and planned to make trading decisions from there. Let's look at the 5-minute chart and see what happened. A rise

Miroslaw Bawulski 19:05 2025-04-25 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 25th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1391 level and planned to make entry decisions around it. Let's take a look at the 5-minute chart and assess what happened

Miroslaw Bawulski 19:00 2025-04-25 UTC+2

How to Trade the GBP/USD Pair on April 25? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD The GBP/USD pair continued to trade upward on Thursday despite the absence of any objective reasons for such movement. There were

Paolo Greco 07:06 2025-04-25 UTC+2

How to Trade the EUR/USD Pair on April 25? Simple Tips and Trade Analysis for Beginners

On Thursday, the EUR/USD currency pair traded with a slight upward bias, although it would have been more logical to see a decline in the second half

Paolo Greco 07:06 2025-04-25 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 25: The Pound Isn't Backing Down

On Thursday, the GBP/USD currency pair continued to trade in the "euro style." The intraday movements were relatively weak, and the technical picture suggests the trend might shift downward

Paolo Greco 03:48 2025-04-25 UTC+2

Trading Recommendations and Analysis for EUR/USD April 25: The Market Awaits New Announcements from Trump

The EUR/USD currency pair traded much more calmly on Thursday than during the first half of the week, and the market was also relatively more technical. Since the beginning

Paolo Greco 03:48 2025-04-25 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 24th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3293 level and planned to use it as a reference for entering the market. Let's look at the 5-minute chart and analyze what

Miroslaw Bawulski 20:01 2025-04-24 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 24th (Review of the Morning Trades)

In my morning forecast, I focused on the 1.1358 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart to understand what

Miroslaw Bawulski 19:58 2025-04-24 UTC+2

How to Trade the GBP/USD Pair on April 24? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair closely followed the movements of the EUR/USD pair, further confirming that the current situation hinges

Paolo Greco 05:50 2025-04-24 UTC+2

How to Trade the EUR/USD Pair on April 24? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair traded in a mixed manner. During the day, the price changed direction several times, and macroeconomic

Paolo Greco 05:50 2025-04-24 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.