Technical Analysis Free Forex Signals EUR/USD Forex Signal EUR/USD Forex Signal Wednesday, 26 December 2018 10:38 Share 0 Tweet 0 Pin it 0 +1 Last Monday’s signals were not triggered, as there was no bearish price action at 1.1416. Today’s EUR/USD Signals Risk 0.75%. Trades may only be entered between 8am New York time and 5pm London time today. Short Trade Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1439. 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 price reaches 20 pips in profit and leave the remainder of the position to ride. Long Trade Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1334. 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 price reaches 20 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 Monday that we had quite a messy and range-bound technical picture which suggested that directional moves would be questionable and impossible to predict. I had no directional bias. This was a good call as the price went nowhere. I maintain the same approach today, but I note that we may have the start of a medium-term bearish formation with an “over and under” bearish pattern forming its final leg at a new resistance level of 1.1439. There is nothing important due today concerning either the EUR or the USD. It is a public holiday in Germany, Italy and the U.K., so EUR liquidity should be thin. 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.