EUR/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Risk 0.75%.
Trades may only be entered 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 1.1234.
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 run.
Short Trade 1
Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1382.
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 run.
EUR/USD Analysis
Markets in general remain very quiet. This pair moved down and came fairly close to the key support level identified at 1.1234. We got a bullish bounce which was small but has continued, from just below 1.1250, an area where you can see to the left of the chart below has been supportive twice ahead of 1.1234.
It is hard to say what will happen next. If we see more bullish momentum at the Frankfurt and London opens it looks more like being an up day than a down day.
Concerning the EUR, there will be a release of German IFO Business Climate data at 9am London time. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 1:30pm.