EUR/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were reached.
Today’s EUR/USD Signals
Risk 0.75%.
Trades may only be entered before 5pm London time today.
Long Trade 1
Long entry following a bullish price action reversal on the 1H1 time frame immediately upon the next touch of 1.1049.
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 1.1105, 1.1119, 1.1162 or 1.1188.
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
Yesterday was very quiet with the price just trading within a narrow range below 1.1100, with a very slight bearish tilt.
There is now a long-term bearish trend, with the price being below its levels from 3 and 6 months ago respectively.
It is hard to predict what is going to happen today, but the closest support and resistance levels do look likely to hold if reached.
There is nothing of high importance due today concerning either the EUR or the USD.