Technical Analysis Free Forex Signals EUR/USD Forex Signal - 14 February 2018 EUR/USD Forex Signal - 14 February 2018 Wednesday, 14 February 2018 10:15 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was insufficiently bearish price action at 1.2330. Today’s EUR/USD Signals Risk 0.75%. Trades may only be entered before 5pm London time today. Long Trade Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.2330. 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. Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run. Short Trades Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.2429 or 1.2476. 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. 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 was likely to reach 1.2330, and the reaction there was likely to determine what will happen next. A break above that level would make the picture more bullish. The price did reach the level, and after looking as if it would reject it early in the London session, the price broke above it and continued its advance. This means that the picture is looking more bullish, although the price movements within the advance are a little small. There is room to advance to 1.2429, and I have a bullish bias for the time being, in line with the long-term bullish trend. There is nothing due today concerning the EUR. Regarding the USD, there will be releases of CPI and Retail Sales data at 1:30pm London time. Currency Pairs EUR/USD Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.