EUR/USD Signal Update
Yesterday’s signals were not triggered as neither of the key levels were ever met.
Today’s EUR/USD Signals
Risk 0.75%.
Trades must be taken before 5pm London time today only.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0550.
* 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 1.0666.
* 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 pair remains stuck, ranging listlessly between the two levels identified above. In fact, the price is showing no urgency to reach either of them. It looks like there will be better opportunities elsewhere in other currency pairs.
The long-term trend is of course short.
There is nothing due today regarding the EUR. Concerning the USD, there will be releases of Core Durable Goods Orders and Unemployment Claims data at 1:30pm London time, followed later by Crude Oil Inventories at 3:30pm and FOMC Meeting Minutes at 7pm.