By: DailyForex.com
EUR/USD Signal Update
Yesterday’s signals were not triggered as there was no bullish price action at 1.0905.
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 1.0875.
* Place 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 run.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1000.
* Place 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 run.
EUR/USD Analysis
It is Christmas Eve today so opportunities are likely to be limited.
Yesterday the price fell somewhat unexpectedly before finding support just below 1.0880. It is now well above 1.0930 as at the time of writing, and I don’t see significant resistance before 1.1000, so quite probably there will not be any good opportunities today. The traders in London usually start celebrating Christmas very early but there will be some US news later which might push the price around a little. Still it is unlikely that we will reach any key levels until next week.
There is nothing due today concerning the EUR, it is also a public holiday in Germany. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.