Last Thursday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be made between 8am and 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 1.0550.
* Place 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 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 1.0708, especially if the bearish rejection here also touches the bearish trend line currently sitting at 1.0735.
* Place 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
The downwards trend in this pair continues, but it has slowed over recent days. The price is still contained within the long-term bearish channel but a few trend lines have been broken which shows the move getting shallower.
We have established a new bearish inner trend line that looks like becoming good resistance. A trip up to the area above 1.0700 with a touch of this line and sharp rejection would probably be a great opportunity to get back into this trend which is well supported by fundamentals and market sentiment.
Regarding the EUR, there will be releases of French and German Flash Manufacturing PMI at 8:00 and 8:30am London time. Concerning the USD, there will be an announcement from the Federal Reserve on an unknown topic.
Leave A Comment