EUR/USD Signal Update
Yesterday’s signals 'were not triggered as the price has still not broken out through either side of the triangle formation.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be made before 5pm London time only.
Short Trade 1
Short entry following some bearish price action on the H1 time frame immediately upon the first touch of 1.1532.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 25 pips in profit.
Take off 50% of the position as profit when the trade is 25 pips in profit and leave the remainder of the position to ride.
Short Trade 2
Short entry following a break and failed retest of the lower triangle trend line.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 25 pips in profit.
Take off 50% of the position as profit when the trade is 25 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Long entry following a break and failed retest of the upper triangle trend line.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 25 pips in profit.
Take off 50% of the position as profit when the trade is 25 pips in profit and leave the remainder of the position to ride to 1.1490.
EUR/USD Analysis
The technical picture has not changed at all. Again, this pair has spent another day ranging within the narrowing triangle. However, some kind of breakout is going to have to happen during the next week.
There are no high-impact events scheduled for the EUR today. Regarding the USD, at 1:30pm London time there will be a release of U.S. CPI and Unemployment Claims data.