EUR/USD Signal Update

Yesterday’s signals expired without being triggered.

Today’s EUR/USD Signals

Risk 0.75%

Trades may only be made between 8am and 5pm London time.

Long Trade 1

  • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1200.

  • 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.

  • Remove 50% of the position as profit when the trade is 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 1.1108.

  • 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.

  • Remove 50% of the position as profit when the trade is 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 the broken supportive trend line currently sitting at around 1.1305.

  • 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.

  • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

    • EUR/USD Analysis

    There was little movement yesterday and this pair remains stuck between 1.1278 and 1.1108, both of which appeared on yesterday’s chart. In fact, there is closer support becoming apparent now, confluent with the round number at 1.1200.

     

    There is nothing due today regarding the EUR. Concerning the USD, there will be a release of ADP Non-Farm Employment Change data at 1:15pm London time. At 8pm, the Chair of the Federal Reserve will be speaking.

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