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 may only be entered before 5pm London time today.
Long Trades
Go long 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.
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 1.0865.
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
I had given up on the Euro rising strongly, but in line with the slightly bullish signs I talked about in yesterday’s forecast, the price of this pair did indeed rise.
The price is currently in the middle of quite a wide area without any key levels, so it is very unclear what will happen next. This is a natural position for the present time anyway, as key news items are due later for both sides, especially the Euro whose central bank is making its major monthly report/input.Regarding the EUR, there will be a release of the Minimum Bid Rate at 12:45pm London time, followed at 1:30pm by the usual Press Conference. Concerning the USD, there will be a release of Unemployment Claims data, also at 1:30pm London time.
