EURUSD trading: how to make money on this currency pair.

The two currencies that make up this trading instrument make it incredibly popular, as they account for the majority of trades on the forex and domestic currency markets.

Trading the EURUSD currency pair is quite complex and has many unique aspects. This is due to the unstable exchange rates of the Euro and the US dollar, with numerous news releases throughout the day causing fluctuations, which hinders stable trading.

However, by analyzing the performance of this currency pair over a month, you can develop your own forex strategies.

Given the specifics of the EURUSD, there are two trading options:

• Long-term - when a transaction is opened once every few days and held for 2-4 days. This can yield several hundred points of profit, but the disadvantage is that the entry point must be as close as possible to a significant minimum or maximum price. And the price itself moves in the opposite direction.

That is, for example, the trend reversed at the maximum and began to decline, or vice versa. Only in this case can you count on a stable profit. Moreover, the maximum - minimum price must be truly significant.

• Short-term - or Intraday trading , here there are many more variations, the duration of transactions can vary from a few minutes to several hours.

The simplest and most interesting option would be trading on flats, which so often occur on EURUSD in the evening and at night.

Open the currency pair chart on H1 and you will immediately see this pattern, which is easy to use when choosing a market entry point.

The essence of the strategy is as follows: a few hours after the market enters a flat, we determine the price channel boundaries and place pending orders for a breakout 15-20 pips beyond these boundaries.

After that, all you have to do is wait for them to be triggered, limiting losses with a stop loss, and locking in profits with a take profit.

A characteristic of intraday trading on EURUSD is the large number of corrections, so a single trade can yield no more than a few dozen pips. Holding positions for longer periods increases the risk of losses.