EUR/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Risk 0.75%
Entries may be made only between 8am and 5pm London time today.
Long Trade 1
Long entry following confirming bullish price action on the H1 chart after the first touch of 1.3643.
Put a stop loss 1 pip below the local swing low.
Adjust the stop loss to break even when the price reaches 1.3740.
Take off 75% of the position as profit at 1.3695 and the remainder of the position at 1.3740.
Short Trade 1
Short entry following confirming bearish price action on the H1 chart after the first touch of 1.3748.
Put a stop loss 1 pip above the local swing high.
Adjust the stop loss to break even when the price reaches 1.3720.
Take off 50% of the position as profit at 1.3720, 25% at1.3695, and the final 25% at 1.3655.
EUR/USD Analysis
As expected, yesterday was a very quiet day and very little happened with this pair. As there is no major news due today we may well have another quiet day, especially with the focus at the time of writing being very much on the JPY and the commodity currencies.
The support at 1.3695 is soft and very questionable, however another move down to 1.3643 should give us a bounce up. Likewise 1.3750, where there is strong confluence, should still act as good resistance. Just as yesterday, any trades should be confirmed by price action on a lower time frame before entry.
There are no high-impact news releases scheduled today concerning either the EUR or the USD. Therefore it is likely to be a quiet day for this pair.