EUR/USD Forex Signal – 12 June 2019



Fibo Quantum Scalper

EURUSD: Remains bullish above 1.1293

Yesterday’s signals were not triggered, as none of the key levels were ever reached.

Today’s EUR/USD Signals

Risk 0.75%.

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

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 two days ago, the price made a strong bullish breakout on high volatility, which placed the odds in the bulls’ favour, and the odds remained so for another day at least. Therefore, I took a bullish bias if the price could make a bullish bounce following a retracement to 1.1293. No such retracement happened, but I was right about the bullish direction of the day.

Although the movement is very slow, the odds still favour the bulls here, and I think we are likely to see new long-term higher prices over the course of today, probably at the time the U.S. data is released or after that. Again, I would be ready to take a specific bullish bias if we get a bullish bounce after a retracement to 1.1293.EURUSDConcerning the EUR, the President of the ECB will be giving a minor speech at 9:15am London time. Regarding the USD, there will be a release of CPI (inflation) data at 1:30pm.






All copyrights for this article are reserved to Daily FX