EUR/USD Signal Update
Last Thursday’s Signals expired without being triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be entered from 8am New York time until 5pm London time today.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.1068 and 1.1035.
Place 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 1.1338.
Place 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
Little has changed regarding the technical picture and judgements are hard to make now as London is on holiday today, and was also on holiday last Friday, so volume has been light and the price action may be deceptive. Nevertheless a look at the chart suggests there is possibly some kind of bottoming out at around 1.1150. We remain some way from any key levels, the nearest and most attractive being the supportive zone that is centred on 1.1050.
There is nothing due today concerning either the EUR or the USD. It is a public holiday in Europe.