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 and 1.1200.
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.
Move 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 1.1300.
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.
Move 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
The Euro fell quite strongly yesterday and has reached a low quite close to the anticipated support level of 1.1234 from where we have had a small bounce so far as at the time of writing. There are some good levels of support below.
Above, there is probably new resistance at the round number of 1.1300, but I would be extra careful there.
There is nothing due concerning the EUR. Regarding the USD, the Chair of the Federal Reserve will be testifying before Congress at 3pm London time, followed later by the release of Crude Oil Inventories at 3:30pm.