EUR/USD Signal Update
Yesterday’s signals were not triggered as none of the key levels were ever reached.
Today’s EUR/USD Signals
Risk 0.75%.
Trades must be entered 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 1.1201 or 1.1120.
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
The price made a small but meaningful upwards move yesterday, before reversing a little way short of the anticipated resistance level at 1.1283. The price may now be finding minor support at around 1.1240.
The pair is without any long-term trend, but is behaving itself technically so good technical set-ups for fairly small targets would probably be the best way to handle this pair, should any opportunities arise today.
There is nothing due regarding the EUR. Concerning the USD, there will be a release of CB Consumer Confidence data at 3pm London time.