Advertisement
Advertisement
trade360
BREAKING NEWS : Start Trading Today Join Now!
Advertisement tickmill

EUR/USD Forex Signal

Written By Mario Blascak, PhD | 2018-07-12 02:09:00 GMT

Today’s EUR/USD Signals

Risk 0.75%.

Trades must be entered before 5pm London time today.

Short Trades

  • Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1759 or 1.1700.

  • Put the stop loss 1 pip above the local swing high.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.

Long Trades

  • Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1669 or 1.1647.

  • Put the stop loss 1 pip above the local swing high.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

EUR/USD Analysis

I wrote yesterday that the price action was likely to be messy and unpredictable here today, and in the absence of any likely major news, it would probably be a very challenging day to make any money trading this currency pair. I was correct insofar as the price moved both up and down significantly, and happily, the turns were at the support and resistance levels given almost to the pip. The U.S. Dollar is much stronger, and the price has broken below the technically significant support level at 1.1700. There is also still a long-term bearish trend. However, it is worth noting that the Euro has held up relatively well against the Dollar, compared to the Japanese Yen, so I do not see this pair as at the centre of the market’s focus today, although that could change if the ECB Minutes release has anything interesting to say. The price action in the late Asian session suggests that the support at 1.1669 is quite likely to hold and push the price up to at least 1.1700 today, but I do not feel comfortable having a definite directional bias.

EURUSD

Concerning the EUR, there will be a release of the ECB Monetary Policy Meeting Accounts at 12:30pm London time. Regarding the USD, there will be a release of CPI data at 1:30pm.

Author

By Mario Blascak, PhD
fbs

Featured Forex Brokers

Broker Profile Open Account
XM
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:30
  • Leverage applies to all EU regulated entities of the group. Leverage depends on the financial instrument traded.
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    tickmill
  • Minimum Deposit: 25 USD
  • Leverage of up to 1:500
  • Broker Type : ECN/STP & STP
  • Regulation : FSA SD008
  • tickmill
    markets
  • Minimum Deposit: 100 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC
  • markets

    The Best Crypto to Crypto

    Exchanger Advantages Open Account
    binance
  • Safety Stability: Multi-tier & multi-cluster system architecture
  • Binance charges a quite low commission fee
  • Multiple-Coin Support : BTC, ETH, LTC, BNB...
  • High Liquidity
  • Multiple-Language Support
  • binance
    changelly
  • Instant cryptocurrency exchange
  • More than 500,000 satisfied users
  • Changelly charges a quite low commission fee
  • Safety Stability
  • changelly
    bitmex
  • Bitmex - Bitcoin Mercantile Exchange is a cryptocurrency derivatives trading platform.
  • Bitmex charges a quite low commission fee
  • Safety Stability
  • changelly

    Best Brokers to Trade Crypto

    Broker Profile Open Account
    XM
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:30
  • Leverage applies to all EU regulated entities of the group. Leverage depends on the financial instrument traded.
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FCA
  • XM
    FBS
  • Offer: 50USD No Deposit Bonus
  • Offer: 100% Deposit Bonus
  • Minimum Deposit: 1 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CRFIN (Russia), 009069697 IFSC (Belize), IFSC/60/230/TS/12
  • FBS
    eToro
  • Offer: 1000USD Deposit Bonus
  • Minimum Deposit: 50 USD
  • Leverage of up to 1:400
  • Broker Type : STP
  • Regulation : ASIC, 335692 CFTC/NFA, 0382918 CySEC, 109/10
  • eToro

    Contact us
    Email: reviewbrokers.net@gmail.com
    Skype:fxvnpro