Forex Trading EURUSD H4 (19 Nov 2018)
EURUSD has broken the down trend line and resistance level 1.1430. The next resistance level is at 1.1500 area and can be a potential short-term shorting opportunity. Let’s wait and see how the price reacts.
As usual, let’s check forexfactory to see if there are any high impact news (red) today before coming up with the trade plan. Note: Time is GMT (+8).
As can be seen from the calendar, there are no major USD or EUR news for the rest of today. However, do take care of opened AUD and GBP positions the following day.
Today’s trade plan will be to enter short term trades for 10 to 30 pips profit.
Forex scanner will come in handy today for short term day trades, filtering all 34 forex pairs, screening up to hourly time frame.
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- Calculate your risk before entering any trade. (Good rule of thumb is to risk 1 to 2% for each trade)
- Check for any major news before entering any trade.
- Scan 34 Forex pairs on all time frames to enter the best trade.
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