EUR/USD Signal Update
Yesterday’s signals were not triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be taken before 5pm London time today only.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1234 or 1.1173.
Put 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 1.1302.
Put 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
Yesterday was a very quiet day in the markets generally and this pair was no exception. Overall the action was slightly bullish and the main technical effect was to erase the key level at 1.1270. I now do not see any key resistance before 1.1300. Additionally, the old level at 1.1234 seems to have come back into play, so should be significant as support, the later it is hit, the more reliable it should be.
Regarding the USD, there will be a release of Core Durable Goods Orders data at 1:30pm London time, followed later by CB Consumer Confidence data at 3pm. There is nothing due concerning the EUR.