empty
23.07.2025 09:01 AM
Intraday Strategies for Beginner Traders on July 23

The euro and the pound continued to rise yesterday, and did so at a reasonably solid pace. The absence of important data allows risk assets to continue showing this kind of movement.

Rumors of Jerome Powell's resignation only strengthened demand for risk assets, thereby weakening the U.S. dollar's position.

Clearly, traders—tired of the uncertainty in U.S. monetary policy—are responding enthusiastically to any hints of potential leadership changes at the Federal Reserve. However, it is worth noting that the situation remains fragile. The lack of a trade agreement between the EU and the U.S. will continue to limit the pair's upward potential, and only hints from the European Central Bank about ending its rate-cutting cycle would allow the medium-term bull market to continue.

Today, the only data expected from the Eurozone concerns the Consumer Confidence Indicator.

It is unlikely that this indicator will significantly shift the market balance, so buying is expected to remain dominant. Only unexpected statements from representatives of the U.S. Fed or the ECB could provoke sharp fluctuations in the currency markets. Likewise, comments from EU and U.S. trade negotiators may positively impact demand and continue the bullish market for the euro.

If the data aligns with economists' expectations, it's best to follow a Mean Reversion strategy. If the data is significantly better or worse than expected, the Momentum strategy is recommended.

Momentum Strategy (Breakout):

EUR/USD

Buying on a breakout above 1.1745 may lead to a rise in the euro toward 1.1775 and 1.1790

Selling on a breakout below 1.1720 may lead to a decline in the euro toward 1.1680 and 1.1660

GBP/USD

Buying on a breakout above 1.3545 may lead to a rise in the pound toward 1.3583 and 1.3615

Selling on a breakout below 1.3505 may lead to a decline in the pound toward 1.3470 and 1.3436

USD/JPY

Buying on a breakout above 147.20 may lead to a rise in the dollar toward 147.45 and 147.74

Selling on a breakout below 146.95 may lead to dollar sell-offs toward 146.50 and 146.20

Mean Reversion Strategy (Pullbacks):

This image is no longer relevant

EUR/USD

I will look for selling opportunities after a failed breakout above 1.1750 followed by a return below this level

I will look for buying opportunities after a failed breakdown below 1.1725 followed by a return above this level

This image is no longer relevant

GBP/USD

I will look for selling opportunities after a failed breakout above 1.3536 followed by a return below this level

I will look for buying opportunities after a failed breakdown below 1.3510 followed by a return above this level

This image is no longer relevant

AUD/USD

I will look for selling opportunities after a failed breakout above 0.6578 followed by a return below this level

I will look for buying opportunities after a failed breakdown below 0.6553 followed by a return above this level

This image is no longer relevant

USD/CAD

I will look for selling opportunities after a failed breakout above 1.3618 followed by a return below this level

I will look for buying opportunities after a failed breakdown below 1.3585 followed by a return above this level

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Maxim Magdalinin
Start trade
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

USD/JPY: Simple Trading Tips for Beginner Traders – July 31st (U.S. Session)

The test of the 148.99 level occurred when the MACD indicator had just started to rise from the zero line, confirming a proper entry point for buying the dollar

Jakub Novak 13:43 2025-07-31 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – July 31st (U.S. Session)

Trade Review and Tips for the British Pound The test of the 1.3254 level occurred when the MACD indicator had just begun moving downward from the zero line, confirming

Jakub Novak 13:41 2025-07-31 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – July 31st (U.S. Session)

Trade Review and Tips for the Euro The first test of the 1.1452 price level occurred when the MACD indicator had already moved significantly above the zero mark, limiting

Jakub Novak 13:39 2025-07-31 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 31. Analysis of Yesterday's Forex Trades

The test of the 148.21 price level occurred when the MACD indicator had just begun moving upward from the zero line, confirming a valid entry point for buying the dollar

Jakub Novak 08:23 2025-07-31 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 31. Analysis of Yesterday's Forex Trades

The test of the 1.3357 price level occurred when the MACD indicator had just started moving downward from the zero line, confirming a correct entry point for selling the pound

Jakub Novak 08:23 2025-07-31 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 31. Analysis of Yesterday's Forex Trades

The test of the 1.1536 price level coincided with a moment when the MACD indicator had already dropped significantly below the zero mark, which limited the pair's downside potential

Jakub Novak 08:23 2025-07-31 UTC+2

Intraday Strategies for Beginner Traders on July 31

The Euro and the Pound Plunged, and There Were Several Reasons for That Yesterday, the U.S. dollar resumed its growth after Federal Reserve Chair Jerome Powell stated that the central

Miroslaw Bawulski 07:48 2025-07-31 UTC+2

Level and Target Adjustments for the U.S. Session – July 30th

The euro saw a slight increase in response to news that the eurozone's GDP grew by 0.1% in the second quarter of this year. The British pound also corrected ahead

Miroslaw Bawulski 12:39 2025-07-30 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – July 30th (U.S. Session)

Trade Review and Recommendations for the Japanese Yen The test of the 147.86 level occurred when the MACD indicator had already moved significantly below the zero line, which limited

Jakub Novak 12:34 2025-07-30 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – July 30th (U.S. Session)

Trade Review and Recommendations for the British Pound The test of the 1.3367 level occurred when the MACD indicator had already moved far above the zero mark, which limited

Jakub Novak 12:32 2025-07-30 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.