EUR/USD Forex Signal - 23 June 2016

EUR/USD Signal Update

Yesterday’s signals were not triggered.

Today’s EUR/USD Signals

Risk 0.75%

Trades may only be entered between 8am and 5pm London time today.

 

Long Trades

  • Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1280 and 1.1234.

  • Place the stop loss 1 pip below the local swing low.

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

  • Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.

 

Short Trade 1

  • Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1477.

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

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

  • Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.

EUR/USD Analysis

This pair started to turn bearish just a whisker away from 1.1300 before finding new support at 1.1280 and turning bullish. The price is now heading back up, largely on the back of an increasing expectation of a Remain vote in the British referendum today.EURUSD

There is nothing due concerning the EUR. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.

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.