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EUR/USD Forex Signal: Consolidation Below $1.0545

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EUR/USD: USD looking to regain ground.

Go short following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.0545 or $1.0600.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 50 pips in profit and leave the remainder of the position to run.Go long following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.0457 or $1.0426.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 run. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a

 

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