Trading EURUSD, how to make money on this currency pair.

The two currencies that form this trading tool give it enormous popularity, since it is in them that most transactions are made on the Forex and domestic foreign exchange markets.

Trading the EURUSD currency pair is quite complex and has a lot of features, this is due to the fact that the exchange rate of the Euro and the American dollar is not stable; a lot of news comes out during the day causing it to change, which interferes with stable trading.

But after analyzing the behavior of a given currency pair for a month, you can create your own Forex strategies.

Taking into account the features of EURUSD, it is realistic to choose 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.