EUR/USD Forex Signal – 11 June 2019



Fibo Quantum Scalper

EURUSD: Still bullish above 1.1293

Yesterday’s signals were not triggered, as the support level at 1.1297 did not hold cleanly.

Today’s EUR/USD Signals

Risk 0.75%.

Trades may be taken between 8am and 5pm London time today only.

Short Trade

  • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1397.

  • 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 Trades

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1293.

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

  • 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.

Great trade opportunities are waiting. Don’t miss it!

TRADE NOW

EUR/USD Analysis

I wrote yesterday that the technical picture was still bullish provided the support level at 1.1297 held. I expected it to be the day’s pivotal point and was ready to go long at a bullish bounce there. This was a good call, the only thing I got wrong was the preciseness of the level, which should have been 1.1293, so I have adjusted the support to sit there.

Two days ago, the price made a strong bullish breakout on high volatility, which placed the odds in the bulls’ favour, and the odds remain so for another day at least. Therefore, I would take a bullish bias if the price can make a bullish bounce following a retracement to 1.1293.EURUSDThere is nothing important due today concerning either the USD or the EUR.






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