EUR/USD Signal Today - 6/11: Trump Boosts USD (Chart)
EUR/USD Signal Today - 6/11: Trump Boosts USD (Chart) . (MENAFN - Daily Forex) My previous EUR/USD signal on 29th October was not triggered's EUR/USD Signals   Risk 0.75%.  Trades must be entered prior to 5pm London time today.   Short Trade Ideas ...
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(MENAFN- Daily Forex) My previous EUR/USD signal on 29th October was not triggered's EUR/USD Signals



Risk 0.75%. Trades must be entered prior to 5pm London time today.



Short entry following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.0750, $1.0788, $1.0807, or $1.0852.



Put 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. Take off 50% of the position as when the price reaches 20 pips in profit and leave the remainder of the position to run.



Long entry following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.0724, $1.0710, $1.0694, $1.0686, or $1.0640.



Put the stop loss 1 pip below the local swing low.

Adjust 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 run.

Short Trade IdeasLong Trade Ideas

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 theprice actionthat occurs at the given levels.

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In my previous EUR/USD analysis just over one week ago, I wrote that the price action here was likely to be ranging. This was a good call for the day, but my support levels did not hold the price action, with the low coming below the first two support levels.

EURUSD Chart by TradingView

The technical picture now has been quite strongly altered by the result of the US general election, with the surprisingly strong victory of Donald Trump as President, and the near-certain capture of both Houses of Congress by Republicans. This scenario was always going to be bullish for the US Dollar, and relatively bearish for the Euro, and as expected, the price has fallen strongly to reach a new multi-month low.

The question now is how much further does this price movement go? The bearish momentum has slowed after the price reached a cluster of support levels near the round number at $1.0700.

I think the Dollar has further gains to make, so I would look here for short-term trades on the short side from any bearish reversals at resistance levels. The trade that stands out would be a short from a bounce off the nearest resistance level at $1.0746, ideally if it rejects the big quarter-number at $1.0750 at the same time.

There is nothing of high importance due today concerning either the Euro or the USD.

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https://menafn.com/1108855954/EURUSD-Signal-Today-611-Trump-Boosts-USD-Chart
2024-11-06
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(MENAFN - Daily Forex) My previous EUR/USD signal on 29th October was not triggered's EUR/USD Signals   Risk 0.75%.  Trades must be entered prior to 5pm London time today.   Short Trade Ideas ...
EUR/USD Signal Today - 6/11: Trump Boosts USD (Chart)