EUR/USD Forex Signal Today 03/04: 5-Month High Price (Chart)

My previous EUR/USD signal on 18th March produced a worthwhile brief commerce from the bearish reversal from the resistance stage at $1.0951.

At this time’s EUR/USD Alerts

Threat 0.75%.

Trades might solely be entered earlier than 5pm London time at the moment.

Quick Commerce Concept

Go brief following a bearish worth motion reversal on the H1 timeframe instantly upon the subsequent contact of $1.1005, $1.1041, $1.1078.
Put the cease loss 1 pip above the native swing excessive.
Alter the cease loss to interrupt even as soon as the commerce is 20 pips in revenue.
Take off 50% of the place as revenue when the worth reaches 20 pips in revenue and depart the rest of the place to run.

Lengthy Commerce Concepts

Go lengthy following a bullish worth motion reversal on the H1 timeframe instantly upon the subsequent contact of $1.0931, $1.0879, or $1.0826.
Put the cease loss 1 pip beneath the native swing low.
Alter the cease loss to interrupt even as soon as the commerce is 20 pips in revenue.
Take off 50% of the place as revenue when the worth reaches 20 pips in revenue and depart the rest of the place to run.

The most effective methodology to determine a traditional “worth motion reversal” is for an hourly candle to shut, corresponding to a pin bar, a doji, an outdoor and even simply an engulfing candle with the next shut. You possibly can exploit these ranges or zones by watching the price action that happens on the given ranges.

EUR/USD Evaluation

In my earlier EUR/USD analysis a couple of weeks in the past, I believed that the EUR/USD currency pair was wanting doubtlessly like to start a long-term bullish pattern, however was additionally presumably going to supply a day buying and selling alternative lengthy at a bounce from help. I used to be proper about the very first thing however flawed in regards to the second, because the robust resistance stage at $1.0951 survived two take a look at from beneath over the day, giving a possibility for a worthwhile brief commerce entry.

Right here we’re a couple of weeks later, and naturally the massive information is yesterday’s announcement by President Trump that the US can be imposing a 20% tariff on all imports from the European Union, efficient instantly. This had the impact of sending the Euro strongly larger towards the Greenback, pushing the worth again above the important thing resistance stage of $1.0951 to a brand new 5-month excessive worth. As I write, the worth just isn’t removed from the massive spherical quantity at $1.1000 which may be very confluent with the resistance stage at $1.1005.

The Euro continues to be gaining, and the momentum and basic occasion right here is clearly overpowering technical issues. This implies that day merchants can search for lengthy trades from pullbacks now, however the issue with that is it is vitally exhausting to know the place the momentum will cease.

As a longer-term pattern dealer, I can be getting into an extended commerce on this foreign money pair at the moment if it ends the New York session above $1.0951.

There’s nothing of excessive significance due at the moment in regards to the Euro. Relating to the USD, there can be a launch of Unemployment Claims knowledge at 1;30pm London time, adopted by ISM Companies PMI at 3pm.

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