EUR/USD Signal Update
Yesterday's signals expired without being triggered as none of the key levels were hit.
Today's EUR/USD Signals
Risk 0.75%
Trades must be entered between 8am and 5pm London time today only.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0868.
Place 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.
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 2
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0813.
Place 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.
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 1
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of the bearish trend line shown in the chart below which is currently sitting at about 1.1070.
Place 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.
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.
EUR/USD Analysis
The USD strengthened a little yesterday and this pair was not an exception to that. In spite of this, the price did not travel very far, and quite probably will not until tomorrow at the earliest as we are pending key USD data releases. The USD is falling back after yesterday's rise. Overall, this pair remains within a kind of no-man's-land with nothing of importance happening between 1.0868 and 1.1070. It will probably be a quiet and inconsequential day today for this pair.
