EUR/USD Signal Update
Last Thursday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Risk 0.75%
Entries can only be made between 8am and 5pm London time today.
Long Trade 1
Long entry after bullish price action on the H1 time frame following a first touch of 1.3487.
Put a stop loss 1 pip below the local swing low.
Adjust the stop loss to break even when the price reaches 1.3540.
Take off 75% of the position as profit at 1.3540 and leave the remainder of the position to run.
Short Trade 1
Short entry at a first touch of 1.3688.
Put a stop loss 1 pip above the local swing high.
Adjust the stop loss to break even when the price reaches 1.3605.
Take off 50% of the position as profit at 1.3605 and leave the remainder of the position to ride.
EUR/USD Analysis
The last two days at the end of last week were fairly dull, with the price ranging around a center of gravity at around 1.3550, but not by much.
There have been no significant changes to the overall picture with this pair. Right now, we are a long way away from 1.3688, so although it is very unlikely to be hit, it would be a great spot for a touch trade today.
A long trade from bullish price action at around 1.3487 is a much more likely event. Today this supportive level is exactly confluent with today’s GMT S2 pivot point, which should strengthen its reliability.
Overall bias is bullish but there is space for a conservative long trade.
There are no high-impact news events scheduled for today concerning either the EUR or the USD, so it is likely to be a very quiet day for this pair.