EUR/USD Signal Update
Yesterday’s signals were not triggered as neither 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 Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1207 or 1.1177.
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 Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1283.
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
Not much happened yesterday, the price just chopped around evenly in the area above 1.1200. There is essentially no long-term trend but I detect a slight bullish bias.
The German data early in the London session usually provides some movement here.
Concerning the EUR, there will be a release of German ZEW Economic Sentiment data at 10am London time. There is nothing due regarding the USD.