EUR/USD Signal Update
Yesterday’s signals expired without being triggered.
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 entry into the zone between 1.1225 and 1.1233.
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 the bearish trend line currently sitting at about 1.1260.
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 3
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1291.
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 4
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1311.
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 1.1134.
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
This pair did not do much yesterday. It tried to get up above 1.1200 during the early part of the London session, but fell back after making a high of 1.1233. Looking at the chart above the current price, there are plenty of resistant levels and a questionable but possibly still potent trend line. This means that although the flow of price does seem to want to go upwards, there is a lot holding it back.
All together this will probably mean that the price will again consolidate today, and any fast runs up to 1.1225 and above will be quite likely to give short opportunities, but maybe only for 25 to 50 pips or so.
There are high-impact events scheduled today for both the USD and the EUR. Regarding the EUR, an EU Economic Summit is being held all day. Concerning the USD, there will be a release of Unemployment Claims data at 1:30pm.