EUR/USD Signal Update
Last Thursday’s signals were not triggered as there was no bullish price action before the price closed below 1.1262.
Today’s EUR/USD Signals
Risk 0.75%
Trades must be made 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 1.1072.
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.
Take off 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
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the bullish trend line at around 1.1020 ideally with an additional touch of 1.1013.
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.
Take off 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 has finally been something of a pause in the strong bullish momentum. However the chart below shows we are still continuing with a rhythm of higher highs and lower lows which cannot be broken until the price breaks down below 1.1072, where we should expect support.
There is no obvious flipped resistance above before 1.1450, so as things stand the next major move is likely to be another push up.
Eurogroup meetings will be occurring today, which may impact the Euro.
