EUR/USD Forex Signal  – 05 April 2018

EUR/USD Forex Signal – 05 April 2018


Yesterday’s signals were not triggered, as there was no bearish price action at 1.2286.


Today’s EUR/USD Signals

Risk 0.75%.

Trades may only be entered before 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 the short-term bearish trend line currently sitting at about 1.2300.

· 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.


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 technical situation suggested a bearish bias now. Although the nearest resistance level did not hold and was invalidated, it was broadly a correct approach as the price is now lower. The picture is more bearish today. There are no key support levels until the 1.2000 area, so the price has plenty of room to fall. The short-term structure is bearish, showing a bearish trend line suppressing the price from a triple tap, and the price continuing to move down. I maintain my bearish bias on this pair. The price looks to be setting up for a strong fall if the U.S. data due tomorrow is very positive for the Dollar.


There is nothing due today concerning either the EUR or the USD.

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