Yesterday’s signals expired without being triggered.

Today’s EUR/USD Signals

Risk 0.75%

Trades must be taken before 5pm London time today only.

Long Trade 1

* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0772.

* 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 price reaches 20 pips in profit and leave the remainder of the position to run.

Long Trade 2

* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.0708.

* 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 price reaches 20 pips in profit and leave the remainder of the position to run.

Short Trade 1

* Short entry 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.

* Adjust the stop loss to break even once the trade is 20 pips in profit.

* Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to run

EUR/USD Analysis

I wrote yesterday that the pair was trying to rise but was finding it hard to even reach 1.0900 let alone break up beyond that level. This has continued and we can see from the chart below that the price was clearly rejecting the 1.0900 level. This can hold as minor resistance and may even be tradable but it can be seen that there is really not much movement in this pair. We still seem stuck between 1.1000 and 1.0700 / 1.0800. The area from 1.1000 to 1.1053 is truly key resistance for this pair, a very clear dividing line between bulls and bears.

Concerning the USD, there will be releases of Core Durable Goods Orders and Unemployment Claims data at 1:30pm London time. There is nothing due regarding the EUR.