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 Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1234 and 1.1200.
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.
Remove 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 1.1477 or 1.1505.
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.
Remove 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 weekend price gap was almost filled yesterday, but the Euro has been strengthened by an increasing belief in the market that the U.K. will vote to remain within the European Union in this Thursday’s referendum.
There is some support at the closest round number below of 1.1300.
The price remains within a large and wide area of movement, and any major shifts in the next British opinion polls could create a great deal of volatility.
Concerning the EUR, there will be a release of German ZEW Economic Sentiment data at 10am London time, followed by the President of the ECB speaking at 2pm. Regarding the USD, the Chair of the Federal Reserve will be testifying before Congress at 3pm, followed later by FOMC Member Powell speaking at 7:30pm.