EURUSD – April 18th 2014

Should price action for the EURUSD remain inside the 1.3790 to 1.3870 zone the following trade set-up is recommended:

• Timeframe: W1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3850
• Take Profit Zone: 1.3250 – 1.3290
• Stop Loss Level: 1.3960

Should price action for the EURUSD breakdown below 1.3790 the following trade set-up is recommended:

• Timeframe: W1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.3250 – 1.3290
• Stop Loss Level: 1.3960

Should price action for the EURUSD breakout above 1.3870 the following trade set-up is recommended:

• Timeframe: W1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3870
• Take Profit Zone: 1.3930 – 1.4000
• Stop Loss Level: 1.3790

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.