Technical Analysis Free Forex Signals EUR/USD Forex Signal EUR/USD Forex Signal Monday, 7 January 2019 10:52 Share 0 Tweet 0 Pin it 0 +1 Last Thursday’s signals were not triggered, as none of the key levels were reached that day. Today’s EUR/USD Signals Risk 0.75%. Trades may only be entered before 5pm London time today. Short Trade Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1430. 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 Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1306. 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 Thursday that the price was really consolidating within a range over this 1.13 to 1.15 area, so we were likely to see the price continue to move slowly between key support and resistance levels. As such, I had no directional bias on this currency pair. This was a good call as the range has held. All that can be added from the past few days is that the price looks just a little more bullish than it did before, and that we have a new key resistance level at 1.1430, so if the price can trade above that level for an hour or two, it would have a chance to continue up to 1.1500. The situation is still summarised as a range between 1.1300 and 1.1500 so reversals at either area are likely to be the best trades possible here right now. I have no directional bias yet. There is nothing of high importance due today concerning the EUR. Regarding the USD, there will be a release of ISM Non-Manufacturing PMI data at 3pm 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.