By: DailyForex.com
EUR/USD Signal Update
Yesterday’s signals were not triggered as there was no bearish price action when the price reached 1.0900.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be taken 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 entry into the zone between 1.0810 and 1.0790.
* 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.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.0950.
* 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.
Short Trade 2
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 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.
Short Trade 3
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1053.
* 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.
EUR/USD Analysis
The USD weakened everywhere somewhat yesterday, and the Euro continued showing its relative strength that has returned after its bounce off support just above 1.0800. A return to that level could give another good long opportunity, but shorts off the half and round numbers above are likely to happen first. We can also expect a fight over the 1.0900 level especially as New York opens later.
There is nothing due today concerning the EUR. Regarding the USD, there will be a release of Final GDP data at 1:30pm London time.