EUR/USD Forex Signal - 15 September 2016

EUR/USD Signal Update

Yesterday’s signals were not triggered as there was no bearish price action at 1.1259.

Today’s EUR/USD Signals

Risk 0.75%.

Trades must be entered before 5pm London time today only.

 

Long Trades

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1207 or 1.1177.

  • 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 1.1283.

  • 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

There is no trend over the long-term and not really over the short-term either. If there is any bias it should probably be a slightly bearish one as support seems to keep holding and the action is suggestive of a forthcoming test of 1.1283 which may provide a good shorting opportunity.EURUSD

There is nothing due today concerning the EUR. Regarding the USD, there will be a release of Retail Sales, PPI and Philly Fed Manufacturing Index data at 1:30pm London time.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.