EUR/USD Signal Update
Last Thursday’s signals were not triggered as the bullish price action took place below 1.1073.
Today’s EUR/USD Signals
Risk 0.75%.
Trades must be entered before 5pm London time today only.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the trend line currently sitting at 1.1055, 1.1028 or 1.1004.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
Short Trade 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1150.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
After several consecutive days of strongly bullish moves, this pair has opened with a gap down and looking weak, although the key support at the trend line and the level at 1.1062 have not broken down yet. The U.S. Dollar and stocks are both up and in the absence of any other news this is probably being driven by the fact that Clinton is maintaining a small but meaningful lead in the opinion polls of the American presidential election.
There is nothing due today regarding either the EUR or the USD.