EUR/USD Signal Update
Last Thursday’s signals were not triggered as there was no bearish price action at 1.1276.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1004.
Place 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.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 2
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0800.
Place 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.
Remove 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 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1189.
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.
Remove 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
Short entry following a bearish price action reversal on the 1H1 time frame immediately upon the next touch of 1.1365.
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.
Remove 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
The USD strengthened in a meaningful way across the board following Friday’s strong NFP numbers, and this pair was no exception. Overall, the pair is within a large range, but it is a choppy, going nowhere type of range. Do not be followed by the large swings, this pair needs to be traded extremely carefully or left alone completely, as both the EUR and USD are prone to strong surges right now.
It will probably be a quiet day today, with resistance at 1.1189 and support at 1.1004 holding.
In early trading, it looks like we are headed up to 1.1189 first.
There are no high-impact events scheduled today for the EUR or the USD.