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 taken from 8am to 5pm London time today only.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.0699 and 1.0683.
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
No short trade today.
EUR/USD Analysis
Surprisingly, there was no meaningful bullish follow-through yesterday for this pair at all. It just sold off on low volatility until reaching the round number at 1.0700 where it has found some support.
The upwards movement may well gradually resume, but it is too early to tell. The fact that support has been found and held so far from a round number is a slightly bullish sign, as is the fact there has been some buying during the first half-hour following the London open.
The market in general is quiet this morning, as it was all day yesterday.
There is nothing due today regarding the EUR. Concerning the USD, there will be a release of Crude Oil Inventories at 3:30pm London time.