EURUSD – May 8th 2014

Should price action for the EURUSD remain inside the 1.3900 to 1.3940 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3920
• Take Profit Zone: 1.3490 – 1.3530
• Stop Loss Level: 1.4060

Should price action for the EURUSD breakdown below 1.3900 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 1.3490 – 1.3530
• Stop Loss Level: 1.4060

Should price action for the EURUSD breakout above 1.3940 the following trade set-up is recommended:

• Timeframe D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3960
• Take Profit Zone: 1.4080 – 1.4100
• Stop Loss Level: 1.3890

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 – May 7th 2014
• Gold – May 6th 2014
• GBPUSD – May 5th 2014
• Oil is stabile below $ 108 per barrel
• Should we trade under emotions?