EUR/USD Signal Update
Yesterday’s signals expired without being triggered as none of the key levels were reached during the London session.
Today’s EUR/USD Signals
Risk 0.75%.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1150.
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 1.1283 or 1.1383.
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
At the time of writing, it seems clear that Donald Trump has pulled off a huge political upset victory and is being elected as the next President of the United States.
This has created great market turmoil, with stocks, the U.S. Dollar and risk assets generally falling sharply, while havens and the Euro have risen sharply.
This has rocketed this pair to new highs but it is still within its long-term range and may be beginning to stabilize already. Although the volatility is huge, support and resistance are “working” and holding, with the resistance at 1.1283 limiting the current move so far.
As stunning upsets, such as this tend to move markets for more than just a few hours, long trades are probably going to remain the best opportunity for today, but be careful as volatility is very large. Whole and half numbers might be important such as 1.1200 and of course 1.1150.
There is nothing due today regarding the EUR. Concerning the USD, there will be a release of Crude Oil Inventories data at 3:30pm London time.