EUR/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Risk 0.50%.
Trades may only be entered before 5pm London time today.
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1105 or 1.1058.
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 run.
Short Trades
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1186, 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 run.
EUR/USD Analysis
This pair did little yesterday. It just consolidated quietly underneath the resistance at 1.1186 which was not even touched, and remained within a narrow range.
I have very little confidence that 1.1186 will hold as the price has been coiled just underneath it for too long. I think the price will reach at least the round number of 1.1200 or a level just barely underneath it soon before possibly continuing or falling.
The resistance at 1.1234 looks attractive as a potential reversal area.
There is no long-term trend in this pair.
There is nothing of high importance due today concerning either the EUR or the USD.