EURUSD had a strong bullish day last Friday. In fact, the last two trading days candle came out as strong bullish candles. The price on the H4 chart shows that it has been heading towards the North with a good momentum. The price, on Friday made a highest high and started having a correction as well. Today’s first two H4 candles came out as corrective candles too. There is a level nearby which has the potential to be the level of support and produce an H4 bullish reversal candle. Let us have a look at the H4 EURUSD chart. This is another trade idea generated by the Elite Swing Trader.

The price went up to the level of 1.13470. The last H4 candle came out as a bearish inside bar. Today’s first two candles have been bearish as well. The chart suggests that the level of 1.13100 might be held by the price since this is level where the price reacted earlier. If the level is held and it produces an H4 bullish reversal candle, then an H1 breakout at the level of 1.13470 would be the signal to go long on the pair. Let us have a look at the summary of the trade....

• Buy Stop Order:  1.13474
• Stop Loss: 1.13073
• Take Profit: 1.14050

There are no such big news events today that might shake the pair. The pair would move very technically. Traders do not have to wait for any particular candle to take the entry. However, most probably the signal might come after the London Open. Click Here to learn more about Elite Swing Trader

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