EUR/USD Signal Update
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
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1108.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 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 the descending trend line or the horizontal level at 1.0930.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
Short Trade 1
Go short at 9am London time provided that the price is below 1.1275.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
Short Trade 2
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1363.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
EUR/USD Analysis
The pair continued its small recovery overnight and in late Asian session trading, but is currently stuck at a resistance zone that starts just before 1.1300 at about 1.1290. This may cap the price and if the first hour of the London session produces a convincing bearish reversal, it suggests that the price is going to turn downwards again and fall to at least 1.1150 or close.
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