Technical Analysis Free Forex Signals EUR/USD Forex Signal - 11 June 2018 EUR/USD Forex Signal - 11 June 2018 Monday, 11 June 2018 9:43 Share 0 Tweet 0 Pin it 0 Last Thursday’s signals were not triggered, as the price was already above 1.1800 at the London open. Today’s EUR/USD Signals Risk 0.75%. Trades may only be taken before 5pm London time today during the next 24-hour period. Short Trades Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1875 or 1.1897. Put 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. Long Trades Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1792 (if the level survives as support into the London open) or 1.1732. Put 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 25 pips in profit and leave the remainder of the position to ride. 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 last Thursday that if the price could get established above 1.1800 soon, then I would have a bullish bias. The price did get above 1.1800 but ended up going nowhere for the rest of the day, before pulling back further on Friday. However, the action still looks relatively bullish. There is strong short-term bullishness on the Euro, against the long-term trend, because the market is now focusing on the possibility that the ECB will soon end its long-run quantitative easing (i.e. money printing) program, which all else remaining equal, is bullish for the Euro. This pair is at the heart of the Forex market’s focus right now. I had thought that the price had room to rise further above 1.1800 but looking at a long-term chart it can be seen the area around 1.1850 has been pivotal, so the price may struggle to rise higher than that. If the price can get beyond 1.1875 it would be a very bullish sign suggesting that the long-term bearish trend has reversed. I have a cautiously bullish bias today if the price can hold above 1.1792 in the hour following the London open. There is nothing due today concerning either the EUR or the USD. 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.