EUR/USD Signal Update
Yesterday’s signals were not triggered as the price never reached 1.1650.
Today’s EUR/USD Signals
Short Trade 1
• Go short after bearish price action on the H1 time frame immediately following the next touch of 1.1650.
• Place the stop loss 1 pip above the local swing high.
• Move the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 2
• Go short after bearish price action on the H1 time frame immediately following the next touch of 1.1862.
• Place the stop loss 1 pip above the local swing high.
• Move the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
I wrote yesterday that the most probable outlook was for a quiet day, and I was right: there was not much movement and the price did not hit any key levels. There is local support at around 1.1540, and this might hold before the run-up to the big news event due tomorrow. It is also unlikely that we will reach 1.1650 today. It will probably be another quiet day. The action is inconsequential, but with a bearish bias.
There are no high-impact data releases scheduled today concerning the EUR. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time.