EUR/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be taken before 5pm London time today only.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0900.
* 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.
Short Trade 2
* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1053.
* 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
There seems to be new support at the round number of 1.0900 or very close to it. The price continues to be squeezed within a range as it cannot break up past 1.1000 but also does not want to fall. It is hard to say what will happen next but it is looking more and more as if the price is going to break up past 1.1000. However there is a lot of resistance above this level.
There are much better opportunities elsewhere.
Concerning the USD, there will be releases of Building Permits and CPI data at 1:30pm London time, followed later by Crude Oil Inventories at 3:30pm. There is nothing due regarding the EUR.