EUR/USD Forex Signal For November 3, 2015

EUR/USD Signal Update

Yesterday’s signals expired without being triggered.

Today’s EUR/USD Signals

Risk 0.75%

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

Long Trade 1

* Long entry 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.

* 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

* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of the bearish trend line currently sitting at around 1.1045.

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

Short Trade 1

* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 1.1088 and 1.1136.

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

EUR/USD Analysis

As expected, yesterday was very quiet, and although the price did turn just short of reaching the bearish trend line, that did act to hold the price at its high of the day.

I expect more of the same today, with little overall movement. This will probably not be the best currency pair to trade today.