EURUSD – May 1st 2014

Should price action for the EURUSD remain inside the 1.3860 to 1.3890 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3880
• Take Profit Zone: 1.3670 – 1.3700
• Stop Loss Level: 1.3960

Should price action for the EURUSD breakdown below 1.3860 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.3670 – 1.3700
• Stop Loss Level: 1.3960

Should price action for the EURUSD breakout above 1.3890 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3910
• Take Profit Zone: 1.4010 – 1.4030
• Stop Loss Level: 1.3850

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

You may also be interested in reading the following posts:

• USDCHF – April 30th 2014
• Gold – April 29th 2014
• GBPUSD – April 28th 2014
• Forex trading with leverage
• Forex is like a contact sport