Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

EUR/USD Signal- Feb. 25, 2014

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

EUR/USD Signal Update

Yesterday’s signal expired without being triggered.

Today’s EUR/USD Signal

Risk 0.75%.

Enter only until 5pm London time today.

Short Trade 1

Enter short at the first touch of 1.3830 that occurs during the London session today.

Put a stop loss at 1.3860.

Move the stop loss to break even when the trade is 25 pips in profit. Take 50% of the position as profit at 1.3780.

EUR/USD Analysis

The pair was quiet yesterday, ranging indecisively and producing a doji candle on the daily chart. For about a whole week now, the price has been ranging between approximately 1.3700 and 1.3775.

We are hugging the lower trend line of the bullish channel that we have become established in. Therefore a real break today below 1.3700 could see a further fall to a point below that, especially if it followed by a failed retest of the broken trend line from the other side, though it is hard to see an obvious target for any move down to reach. I cannot identify any really strong support level until we get down to 1.3550, which is now too far away from the current price to be relevant to us. On the other hand, there is a strong and obvious resistance zone above us, stretching from 1.3830 to 1.3860, so I am looking for a short trade if the price should reach that area during the London session today.

EURUSD Signal 22514

Christopher Lewis sees this pair as stuck between 1.3700 and 1.3800 and therefore wants to be on the side. I disagree and think that a week is a little too long for this pair to be stuck, and that we are likely to see some kind of breakout soon.

There is no important EUR-related data scheduled for release today. For the USD, there is BC Consumer Confidence data that will be released at 3pm London time today. We may well be due for another fairly quiet day today.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

Most Visited Forex Broker Reviews