EUR/USD Signal Update
Yesterday’s signals were not triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades may only be taken before 5pm London time today.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0684.
Put 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 trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.0800 and 1.0813.
Put 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.
Short Trade 2
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.0846.
Put 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.
EUR/USD Analysis
Not much happened yesterday. The price did not quite reach the resistance at 1.0800, the high of the day was 10 pips short of that, which makes it look like this round number should be resistant if hit in the absence of any major news. Other than that, there are really no conclusions to be drawn from yesterday’s trading.
I have added a steeper bearish trend line to the chart below just as a guide: if the price breaks above it, this should be an early sign that it will go up to at least 1.0800.
There may be minor support at 1.0700.
Otherwise the technical picture is unchanged from yesterday. Again there is no news scheduled so it may be another quiet day.
There is nothing due today regarding either the EUR or the USD.