EUR/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be entered before 5pm London time.
Short Trade 1
Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2166. The touch must be made after 8am London time.
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 trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 2
Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2219.
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 trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 3
Go short after bearish price action on the H1 time frame immediately following the next touch of 1.2268.
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 trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Go long after bullish price action on the H1 time frame immediately following the next touch of 1.2041.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 40 pips in profit.
Take off 25% of the position as profit when the trade is 40 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
As expected, yesterday was a fairly quiet day, and the bullish USD trend continued driving this pair down to a new multi-year low. However just now, around the Frankfurt open, the price has shot up to the closest resistance at 1.2166. If this resistance holds, it may provide a new opportunity for a short trade if the price action is right. If it breaks, we should proceed up to 1.2200.
There are no high-impact data releases scheduled today concerning the EUR. Regarding the USD, there will be a release of CB Consumer Confidence data at 3pm London time.