EUR/USD Signal Update
Yesterday’s signals were not triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be made between 8am and 5pm London time today only.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.1068 and 1.1035.
* 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 run.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1217.
* Put the stop loss 1 pip above the local swing high.
* Adjust the stop loss to break even once the trade is 25 pips in profit.
* Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.
EUR/USD Analysis
Yesterday was a fairly quiet inside day, which is not surprising as it was a Monday without any major news. Things should liven up later with the release of key U.S. data. The most probably opportunity that is going to set up will be an entry into the zone of probable support below which is centred on the 1.1050 level. There has been a bullish bias lately, it would also be a false break of an inside day, as well as being a key area of previous resistance. These factors all contribute to a possible long opportunity existing there.
There is nothing due today concerning the EUR. Regarding the USD, there will be a release of Retail Sales and PPI data at 12:30pm London time.