EUR/USD Forex Signal - 31 December 2014

Adam Lemon
Adam Lemon
on December 31, 2014 | Updated On Dec 31, 2014

By: DailyForex.com

EUR/USD Signal Update

Yesterday’s signals were not triggered and expired. The price did reach 1.2166 but passed the level without bearish price action.

Today’s EUR/USD Signals

  • Risk 0.75%

  • Trades may only be started between 8am and 5pm London time.

Short Trade 2

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

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

Short Trade 3

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

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

 

Long Trade 1

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

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

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

  • Remove 25% of the position as profit when the trade is 40 pips in profit and leave the remainder of the position to run.

EUR/USD Analysis

I had expected that we would reach 1.2200 yesterday but it was a very weak day overall without much clear movement or direction. The price has fallen overnight to put us back where we were at London open yesterday. The last day of the year often does produce a move, but there is no sign of it yet.

EURUSD 123114

There are no high-impact data releases scheduled today concerning the EUR. It is a public holiday in Germany. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm 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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