EUR/USD Forex Signal - 30 December 2014

Adam Lemon
Adam Lemon
on December 30, 2014 | Updated On Dec 30, 2014

By: DailyForex.com

EUR/USD Signal Update

Yesterday’s signals expired without being triggered.

Today’s EUR/USD Signals

  • Risk 0.75%

  • Trades must be entered before 5pm London time.

Short Trade 1

  • Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2166. The touch must be made after 8am London time.

  • 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 trade is 20 pips in profit and leave the remainder of the position to ride.

Short Trade 2

  • Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2219.

  • 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 trade is 20 pips in profit and leave the remainder of the position to ride.

Short Trade 3

  • Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2268.

  • 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 trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 1

  • Go long after bullish price action on the H1 time frame immediately following the next touch of 1.2041.

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

  • Move the stop loss to break even once the trade is 40 pips in profit.

  • Take off 25% of the position as profit when the trade is 40 pips in profit and leave the remainder of the position to ride.

EUR/USD Analysis

As expected, yesterday was a fairly quiet day, and the bullish USD trend continued driving this pair down to a new multi-year low. However just now, around the Frankfurt open, the price has shot up to the closest resistance at 1.2166. If this resistance holds, it may provide a new opportunity for a short trade if the price action is right. If it breaks, we should proceed up to 1.2200.

EURUSD 123014

There are no high-impact data releases scheduled today concerning the EUR. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.

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About the Author
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.
Learn more from Adam in his free lessons at FX Academy

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