Technical Analysis Free Forex Signals EUR/USD Forex Signal EUR/USD Forex Signal Tuesday, 12 June 2018 7:11 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered as there was no bullish price action there after the London open. Today’s EUR/USD Signals Risk 0.75%. Trades must be entered between 8am and 5pm London time today during the next 24-hour period only. Short Trades Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1875 or 1.1897. Place 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 price reaches 20 pips in profit and leave the remainder of the position to run. Long Trades Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1732, 1.1709, or 1.1648. Place 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 price reaches 25 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 had a bullish bias yesterday which did not work out very well. The Dollar rose a little and the Euro did not manage to compete, with the price falling below the highest support level at 1.1792 which has now been invalidated. However, the price does seem to be basing in the area below 1.1750 with a cluster of support in that area and may be making a double bottom close to 1.1732. I do not see this pair as technically ready to fall yet. The market will now focus on the aftermath of the Trump/Kim summit, which appears so far to have had negligible impact, and probably more importantly U.S. inflation data due later. If the data is unusually high it might push the price down faster, although I think weaker than expected inflation would be more strongly expressed in a rise from the 1.1750 area. I have no bias and expect today’s move will be driven largely by this inflation data. There is nothing due today concerning the EUR. Regarding the USD, there will be a release of CPI 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.