EUR/USD Signal Update
Yesterday's signals might have given a profitable long trade off a retest of the broken trend line, depending upon how the trend line was drawn.
Today's EUR/USD Signals
Risk 0.75%
Trades may only be taken before 5pm London time today.
Any open trade should be protected before 6:30pm London time.
Long Trade 1
Long Trade 2
EUR/USD Analysis
Yesterday the price fell but found support at around 1.1026 which became the low of the day and also triggered some kind of a move up. This was fairly confluent with the trend line. These two supportive elements are still confluent and could act as support again today.
As we have the FOMC release after London closes, the London session today is likely to trade within a relatively narrow range, with the high and low of yesterday being an inside having some supportive and resistant properties. The best bet looks to be a long off the 1.1000 – 1.1025 area that could be held into a dovish FOMC release.
There is nothing due today regarding the EUR. Regarding the USD, there will be a release of the FOMC Meeting Minutes and Federal Funds Rate at 7pm London time.
