Today's recommendations for trading the EUR / USD currency pair


 Short trading ideas: Place a sell trade after the reversal of price action within the downtrend on the H1 timeframe immediately upon next touching 1.2260, 1.2300, or 1.2310. Set your stop-loss one pip above the local swing high. Move your stop loss to interrupt parity once it hits Trade a 20 pip profit. Take 50% of the position as profit when the worth reaches 20 pips in profit and permit the rest of the position to run. a thought to shop for extended trade, place a buy trade after the reversal of price action within the upward trend on the H1 timeframe immediately on subsequent touch at 1.2107. Set your stop loss 1 pip below the local swing low. Move your stop loss to interrupt even once the trade hits a profit of 20 pips. Take 50% of the position as profit when the worth reaches 20 pips of profit and let the remainder of the position run.




 the simplest thanks to defining a classic "price action reversal" is to shut an hourly candle, like a pin bar, a Doji candle, an outdoor candle, or maybe just a sunk candle with a better close. you'll exploit these levels or areas by observing the worth action that happens at the required levels.


 Analysis of the trading of the EUR / USD currency pair


 I wrote yesterday that we are unlikely to ascertain new highs today beyond the 1.2260 level which seemed to be a big resistance level at which we are looking to require a brief trade.


 I assumed it had been likely a bearish day, so I used to be looking to travel short. This was an honest expectation because the rate dropped during the day.


 We see the worth now during a broad area of consolidation between the support at 1.2107 and therefore the resistance at 1.2260.


 Short term price action, alongside the overall weakness of the US dollar, indicates that the worth is once more moving to the upside and should rise to check the resistance at 1.2260. However, as long as we've already seen some volatility within this area, it's doubtful whether the movement is going to be clean and sufficient to maneuver to the utmost price. Therefore, we may experience a mixed price movement today.


 I feel that wide selection is probably going to continue today within the absence of any major news because the markets are likely to settle down because the Christmas break approaches within the major markets. Therefore, I might be happy to trade either buy or sell on any reversal from a specified support or resistance level today.

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