EUR/USD Signal Update
Yesterday’s signals were not triggered as the price never reached 1.1072.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be entered before 5pm London time today only.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1072.
Put the stop loss 1 pip below the local swing low.
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 run.
Long Trade 2
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the bullish trend line currently sitting at around 1.1040.
Put the stop loss 1 pip below the local swing low.
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 run.
Long Trade 3
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1013.
Put the stop loss 1 pip below the local swing low.
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 run.
EUR/USD Analysis
As expected the bias is still upwards and the uptrend remains intact with the price still making higher lows. However it looks like the trend is beginning to run out of steam or at least getting ready to pause for a few days. We are in a kind of no-man’s-land at the moment, more than an average day’s range away from support or resistance, so in the absence of any news surprises we might just consolidate around 1.1250 for a while.
Longs from around 1.1072 and below look good.
There will be a release of U.S. Retail Sales data at 1:30pm London time today.