EUR/USD Signal Update
There is no outstanding signal.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be made before 5pm London time.
Short Trade 1
Short entry following bearish price action on the H1 time frame immediately following the next touch of 1.2500.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 2
Short entry following bearish price action on the H1 time frame immediately following the next touch of 1.2539.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 3
Short entry following bearish price action on the H1 time frame immediately following the next touch of 1.2565.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Long entry following bullish price action on the 1H1 time frame H1H1H1 time frame immediately following the next touch of 1.2400.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
I had expected yesterday to be a fairly quiet day, which it was. However I thought a drift down would be more probably than not, but instead we are rising to approach the resistance at 1.2500 again.
This pair’s recent action has become more suitable to the kind of “levels” trading that these free daily signals are based upon. Below we have nice flipped support confluent with a round number at 1.2400, and above we have the same at 1.2500. I am wary of 1.2500 as it was hit so recently, so I suspect that the levels above that offer more high-probability short trades today, especially 1.2565 if we hit it today as it is at the very edge of the probable volatility range in the absence of major news announcements. There is also a resistant level at 1.2539.
There are no high-impact news releases scheduled today that are likely to affect either the EUR or the USD. The U.S.A. returns after yesterday’s public holiday so volatility will probably pick up.