EUR/USD Forex Signal

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.