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 1.1076, 1.1025 or 1.0900.
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 1.1170, 1.1234 or 1.1280.
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
Still no dramatic developments: essentially going nowhere, but with a slight bullish drift. However it is worth noting that the Euro was the best-performing currency last week.
I have drawn new horizontal support at 1.1076. As there are several key levels fairly close by it is only a matter of time before one of them is hit and then we will get some clues as to this pair’s next direction, although it has no long-term trend at the moment.
There is nothing due concerning the EUR or the USD.