EUR/USD Signal Update
Yesterday’s signals were not triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1273.
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 Trades
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 1.1445, or 1.1477 or 1.1505.
Place the stop loss 1 pip above 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.
EUR/USD Analysis
The price really did not move much today. This pair is really caught between a strong USD and an almost equally strong EUR. It does not want to fall below the support at 1.1361 but it also really just cannot get above 1.1400 without being sold off. There is quite a narrow struggle here between bulls and bears and it is very difficult to say which way the struggle is most likely to end.
There are no high-impact events due today concerning the EUR. Regarding the USD, there will be a release of Crude Oil Inventories at 3:30pm London time.