How to exchange currency EUR/USD on 10 February? Simple Tips and Trade Analysis for Beginners

Ben Graham · February 10

Monday's Trade Analysis:

1H Chart of the EUR/USD Pair

The EUR/USD currency pair began a sharp upward move on Monday. There was no macroeconomic or fundamental backdrop that day, except for a report from China in which the government "recommended" that Chinese banks refrain from investing in American securities. This report may have reduced demand for the American dollar in the market again. However, the dollar had plenty of reasons to fall even without this. Recall that a few weeks ago, the pair left a seven-month flat phase, which was a significant moment. The long-term upward trend has resumed, so we should only expect the pair to grow. Of course, there will be corrections; we just saw one last week. But overall, we expect the euro to rise above the 20 level soon. In 2026, there is no limit to the pair's growth. The more questionable and controversial decisions Donald Trump makes, the more the dollar will decline in the eyes of the world.

5M Chart of the EUR/USD Pair

On the 5-minute timeframe, one excellent signal was formed on Monday at the very beginning of the European trading session. The price broke through the 1.1830-1.1837 range, allowing beginner traders to open relatively simple long positions. By the beginning of the American session, the area of 1.1899-1.1908 was worked out and surpassed. Thus, traders could close their long positions at good profits or leave them open, hoping for even greater gains.

How to Trade on Tuesday:

On the hourly timeframe, a downward correction is ongoing, which could soon transform back into an upward movement. Remember that the flat phase that lasted for 7 months has ended. If so, the long-term upward trend has resumed at the beginning of 2026. Thus, we expect a new medium-term decline in the dollar. The overall fundamental backdrop remains very challenging for the American currency, so we fully support further movement to the north.

On Tuesday, beginning traders may consider short positions if the price consolidates below the 1.1899-1.1908 area, with a target of 1.1830-1.1837. A price consolidation above the area of 1.1899-1.1908 allows remaining in longs with a target of 1.1970.

On the 5-minute timeframe, the following levels should be considered: 1.1455-1.1474, 1.1527-1.1531, 1.1550, 1.1584-1.1591, 1.1655-1.1666, 1.1745-1.1754, 1.1830-1.1837, 1.1899-1.1908, 1.1970-1.1988, 1.2044-1.2056, 1.2092-1.2104. Today, there are no significant events planned in the Eurozone, while in the US, ADP (weekly) and retail sales reports will be published. These reports may provoke a slight reaction but are unlikely to impact overall market sentiment significantly.

Main Rules of the Trading System:

The strength of the signal is determined by the time it takes to form (rebound or breaking through the level). The shorter the time, the stronger the signal.
If two or more trades were opened around a particular level based on false signals, all subsequent signals from that level should be ignored.
In a flat market, any pair can generate numerous false signals or no signals at all. In any case, it is best to stop trading at the first signs of a flat.
Trades are opened during the time period between the start of the European session and until the middle of the American session, after which all trades should be manually closed.
On the hourly timeframe, signals from the MACD indicator should ideally be traded only when there is good volatility and a trend confirmed by a trend line or channel.
If two levels are too close to each other (ranging from 5 to 20 pips), they should be considered as a support or resistance area.
After moving 15 pips in the correct direction, it is advisable to set the Stop Loss to break-even.

What's on the Charts:

Support and resistance levels are targets for opening buy or sell trades. Take Profit levels can be placed around them.
Red lines indicate channels or trend lines that reflect the current trend and indicate the preferred direction for trading now.
The MACD indicator (14,22,3) – the histogram and signal line – serves as a supplementary indicator that can also be used as a source of signals.
Important speeches and reports (always found in the news calendar) can significantly influence the movement of the currency pair. Therefore, during their release, trading should be conducted with maximum caution, or it is advised to exit the market to avoid a sharp price reversal against the preceding movement.
Beginners trading in the Forex market should remember that not every trade can be profitable. Developing a clear strategy and practicing sound money management are the keys to long-term trading success.

The material has been provided by InstaForex Company - www.instaforex.com