EUR/USD Signal Update
Yesterday’s signals were never triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be made before 5pm London time today.
Make sure any open trade is protected before 6:30pm London time.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of the broken trend line currently sitting at about 1.1000.
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.
Remove 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
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0930.
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.
Remove 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
The price continued its recent retracement downwards yesterday before finding some support last night at around 1.1020, a little earlier than the broken trend line which looked like it would act as probable support. The action during the Asian session is suggestive of a move up today. However there is some resistance stretching from around 1.1080 to 1.1100 which is quite likely to cap the price before the FOMC release a couple of hours after London closes.
There is nothing due concerning the EUR. Regarding the USD, there will be a release of CPI data at 1:30pm London time, followed by the FOMC Meeting Minutes at 7pm.