In todays live EUR/USD forex trading video you will learn simple forex trading strategy you can apply on any financial market, when you see clear price action structure on high time-frames such as Daily and 4 Hourly charts. This is simple but powerful trading strategy because it is following the market basics and fundamentals of support and resistance.

We mentioned this trading idea in our yesterdays "BecomingTraderFX weekly forex forecast" video. In this live EUR/USD forex trade we were looking for a possible bounce higher, after price reached long-term daily and 4 hourly price action channel support.

We took this live forex trade on our trading account we use with our students inside of our forex mentoring program. As explained in this live trading video we took this long trade on EUR/USD with 1% risk, 28 pips Stop Loss and 1 standard lot. Many of our "forex mentoring program" students take this trade, so congratulations on great start of 2021 trading year.

Not every forex swing trade will be a winning trade (you will have losing trades too), but what matters is consistency with your trading process, and that you focus on Risk management rules and having the correct trading mindset for long-term forex trading success.

Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the fx market. Don’t trade with money you can’t afford to lose. You must be aware of the risks of investing in forex and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Weekly forex outlook opinions on this page are for informational purposes only and are not investment advice. You should do your own research before making any investment decisions and take full responsibility for your own results, performance.

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Editors’ Picks

EUR/USD extends gains amid dollar weakness

EUR/USD has bounced above 1.2150 as the US dollar resumes its decline in the aftermath of Friday's weak job figures. Uncertainty about the ECB's policy somewhat weighs on the currency while the upbeat Sentix Investor Confidence supports it.

EUR/USD News

GBP/USD soars to 1.41 after UK elections, US Nonfarm Payrolls

GBP/USD has hit a new three-month high just above 1.41 after the SNP failed to win a majority in Scotland and as the UK is set to extend its reopening. The dollar is still suffering from Friday's weak jobs report.

GBP/USD News

USD/JPY Forecast: Bears hold the grip

US Treasury yields set the tone for USD/JPY as stocks struggle for direction. The American dollar is the weakest after terrible employment figures. USD/JPY is at risk of falling further and pierce the 108.00 level.

USD/JPY News

Editors’ Picks

EUR/USD extends gains amid dollar weakness

EUR/USD has bounced above 1.2150 as the US dollar resumes its decline in the aftermath of Friday's weak job figures. Uncertainty about the ECB's policy somewhat weighs on the currency while the upbeat Sentix Investor Confidence supports it.

EUR/USD News

GBP/USD soars to 1.41 after UK elections, US Nonfarm Payrolls

GBP/USD has hit a new three-month high just above 1.41 after the SNP failed to win a majority in Scotland and as the UK is set to extend its reopening. The dollar is still suffering from Friday's weak jobs report.

GBP/USD News

XAU/USD eyes critical resistance at $1,850

XAU/USD is rising for the fourth straight day on Monday. Next hurdle for gold is located around $1,850. A technical correction could be witnessed before the next leg up.

Gold News

Dogecoin eyes consolidation after its recent pullback

Dogecoin price could undergo consolidation as it is stuck between two demand barriers. Transactional data shows underwater investors at $0.624 could hinder an upswing.

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S&P 500 Nasdaq Day Ahead: No jobs, no bears, no way

Friday's jobs report still looms large over markets this morning with the dollar suffering a pasting at the hands of a resurgent sterling. Yields continue to shrug it off and slumber while the VIX does give a little wobble.

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