My previous EUR/USD signal on 25th March was not triggered.
Today’s EUR/USD Signals
Short Trade Ideas
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Short entry following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.1719, $1.1740, or $1.1757.
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Place the stop loss 1 pip above the local swing high.
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Move the stop loss to break even once the trade is 20 pips in profit.
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Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
Long Trade Ideas
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Long entry following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.1682, $1.1678, or $1.1669.
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Place the stop loss 1 pip below the local swing low.
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Move the stop loss to break even once the trade is 20 pips in profit.
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Remove 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.
EUR/USD Analysis
In my previous EUR/USD analysis a little more than one month ago, I thought that the EUR/USD currency pair was looking a little bullish, with $1.1576 very pivotal.
This was not a great call for the day.
The technical picture here is mixed, with a wide bearish descending price channel pushing the price lower over several days. However, the price just got near a cluster of support levels which start at $1.1682 and these seem to have halted the slide in the price for now.
I think the price is likely to range today between the nearest support and resistance levels as there is not much going on in the market.
I would take a conservative long trade from a bullish bounce at $1.1682, or a short trade from a bearish rejection of the resistance level at $1.1719 later, especially if at the time it is confluent with the descending channel upper trend line which I have drawn within the price chart below.
(image28042026eurusd)
https://www.tradingview.com/chart?symbol=FX%3AEURUSD
There is nothing of high importance scheduled today concerning either the Euro or the US Dollar.
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