Today’s EUR/USD Signals
Risk 0.75%.
Trades may only be entered before 5pm London time today.
Short Trades
- Go short following a bearish price action reversal on the 1H1 time frame H1H1H1 time frame immediately upon the next touch of 1.1620 or 1.1715.
- 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 ride.
Long Trade
- Go long following a bullish price action reversal on the 1H1 time frame H1H1H1 time frame immediately upon the next touch of 1.1535.
- 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 ride.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
EUR/USD Analysis
The EUR lost the momentum it gained recently to break the 1.1733 high, and this supporting a minor correction until the pair reached the 1.1530 support and closed last week around 1.1552. Any move below 1.1500 will increase selling, especially after the positive US jobs data and the continuation of the tariff war between the United States and China. The general trend of the pair remains bearish until signs of a correction start to appear.
There is nothing important due today concerning the USD. Regarding the EUR, there will be the release of the Sentix Investor Confidence Index.