EUR/USD Signal Update
Last Thursday’s signals were not triggered as the bearish price action did not take place at the right area.
Today’s EUR/USD Signals
Risk 0.50%
Trades may only be entered before 5pm London time today.
Long Trade 1
* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0900.
* Place 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 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 1.1068.
* Place the stop loss 1 pip above the local swing high.
* Move the stop loss to break even once the trade is 25 pips in profit.
* Take off 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
This pair finally got some movement at the end of this week, but it looks quiet inconclusive. Note that the old trend line shown in the chart below has seemed to act as support again, but it seems unreliable, so I do not see key support before the round number at 1.0900. It is likely to be a quiet trading day today so quite probably there will not be any good opportunity here.
There is nothing due today concerning either the EUR or the USD.