EUR/USD Signal Update
Yesterday’s signals were not triggered as the price never reached either 1.1005 or 1.0800.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be entered before 5pm London time today only.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1005.
Put the stop loss 1 pip above the local swing high.
Adjust 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.
Short Trade 2
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1071.
Put the stop loss 1 pip above the local swing high.
Adjust 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 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the trend line currently sitting at around 1.0800.
Put the stop loss 1 pip below the local swing low.
Adjust 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
I wrote yesterday that some consolidation would not be a surprise now for a couple of days and that is roughly what seems to be happening. We remain well within the range of yesterday’s trading session. However the price action this morning is bullish and suggests the price will probably need to reach 1.1000 again, or a level very close to it, before it moves down again towards 1.0900.
There are no high-impact events scheduled today for either the EUR or the USD.