EUR/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm London time today.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.0950 and 1.1000.
* Place 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.
* Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.
Long Trade 1
* 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.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run.
EUR/USD Analysis
The price had been falling from resistance at 1.1053 already before the FOMC announcement which initially created some volatility before strengthening the USD further and sending this pair down, although in the past few hours the price has made a V shape and started recovering.
The chart shows that the push down following the FOMC volatility came from the 1.0950 – 1.1000 area and so we might expect this zone to again be resistive, although it is not formally marked as such on the chart.
The support at 1.0800 looks solid if we should return there.
Regarding the EUR, there will be a release of German IFO Business Climate data at 9am London time. Concerning the USD, there will be a release of the Philly Fed Manufacturing Index and Unemployment Claims data at 1:30pm.