EUR/USD Forex Signal - 28 December 2015

EUR/USD Signal Update

Last Thursday’s signals were not triggered and expired.

 

Today’s EUR/USD Signals

Risk 0.75%

Trades may only be taken from 9am to noon New York time today.

 

Long Trade 1

* Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0875.

* Put 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 ride.

 

Short Trade 1

* Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1000.

* Put 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 ride.

 

EUR/USD Analysis

The price has risen a little since the weekly open, and may be turning to form a slightly lower second part of a double top at around 1.0980. We could see a move down from here to 1.0878.

Trading volume is likely to be very thin until New York opens, as it is a public holiday in London, so until 5pm London time volume should be thinner anyway.

EURUSD

There is nothing due today concerning the EUR or the USD, it is also a public holiday in the U.K.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.