EUR/USD Signal Update
Last Thursday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be taken from 9am to noon New York time today.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0875.
* 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.
* Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
Short Trade 1
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1000.
* Put 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.
* Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
The price has risen a little since the weekly open, and may be turning to form a slightly lower second part of a double top at around 1.0980. We could see a move down from here to 1.0878.
Trading volume is likely to be very thin until New York opens, as it is a public holiday in London, so until 5pm London time volume should be thinner anyway.
There is nothing due today concerning the EUR or the USD, it is also a public holiday in the U.K.