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EUR/USD Forex Signal - 30 December 2014

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

EUR/USD Signal Update

Yesterday’s signals expired without being triggered.

Today’s EUR/USD Signals

  • Risk 0.75%

  • Trades must be entered before 5pm London time.

Short Trade 1

  • Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2166. The touch must be made after 8am London time.

  • 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 trade is 20 pips in profit and leave the remainder of the position to ride.

Short Trade 2

  • Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2219.

  • 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 trade is 20 pips in profit and leave the remainder of the position to ride.

Short Trade 3

  • Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2268.

  • 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 trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 1

  • Go long after bullish price action on the H1 time frame immediately following the next touch of 1.2041.

  • Place the stop loss 1 pip below the local swing low.

  • Move the stop loss to break even once the trade is 40 pips in profit.

  • Take off 25% of the position as profit when the trade is 40 pips in profit and leave the remainder of the position to ride.

EUR/USD Analysis

As expected, yesterday was a fairly quiet day, and the bullish USD trend continued driving this pair down to a new multi-year low. However just now, around the Frankfurt open, the price has shot up to the closest resistance at 1.2166. If this resistance holds, it may provide a new opportunity for a short trade if the price action is right. If it breaks, we should proceed up to 1.2200.

EURUSD 123014

There are no high-impact data releases scheduled today concerning the EUR. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.

Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

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