EUR/USD Signal Update
Yesterday’s signals were not triggered as the bullish rejection of the support level identified at 1.1028 did not come until after the London Close.
Today’s EUR/USD Signals
Risk 0.75%.
Trades may only be taken before 5pm London time today.
Long Trades
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1028 or 1.1004.
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 1.1150.
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
After yesterday’s bullish run by the U.S. Dollar, the markets have been very quiet, unusually so, since London closed. The Euro here has made a small double bottom at the support level of 1.1028 and is now showing signs of slowly rising. The bullish trend line has been broken.
I find this gentle rise surprising as the polls are continuing to trend towards a Clinton victory, which should logically strengthen the U.S. Dollar.
It is quite probably that the markets will be thin and quiet all day until initial exit polling comes in from the U.S. later.
There is nothing due today regarding either the EUR, or the USD, until the Presidential Election results later.