EUR/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s EUR/USD Signals
Risk 0.75%
Entries must be made before 5pm London time only.
Long Trade
Go long following bullish price action on the H1 time frame following a first touch of 1.2750.
Place a stop loss 1 pip below the local swing low.
Adjust the stop loss to break even when the trade is 50 pips in profit.
Take off 25% of the position as profit when the trade is 50 pips in profit, and leave the remainder of the position to run.
Short Trade
Go short following bearish price action on the H1 time frame following a first touch of 1.3000.
Place a stop loss 1 pip above the local swing high.
Adjust the stop loss to break even when the trade is 50 pips in profit.
Take off 25% of the position as profit when the trade is 50 pips in profit and leave the remainder of the position to run.
EUR/USD Analysis
Typically for a Monday, yesterday was a fairly quiet day, although we did make a new yearly low only about 65 pips off the likely support at 1.2750. Although the downwards trend has slowed greatly over recent days, it is still happening and the flow is still down, albeit with a lot of pulling back and reluctance.
There is possible minor resistance at around 1.2930.
It might be that the support will kick in strongly some way before 1.2750. Look for some sudden upwards momentum off a new low.
This pair is not very interesting to trade between 1.2750 and 1.3000.
There are no high-impact data releases scheduled for today that are will directly affect the USD. Regarding the Euro, there will be a release of French Flash Manufacturing PMI data at 8am London time followed by the German equivalent half an hour later. Therefore the early part of the London session is likely to be the most volatile period today for this pair.