EUR/USD Signal Update

Last Thursday’s signals expired without being triggered.

Today’s EUR/USD Signals

• Risk 0.75% equity.

• Entries must be made between 8am and 5pm London time today.

• Any open positions should be protected at 5:30pm London time.

Long Trade 1

• Go long following bullish price action on the H1 time frame after the first touch of 1.3575.

• Place a stop loss 1 pip below the local swing low.

• Move the stop loss to break even when the price reaches 1.3650.

• Take off 75% of the position as profit at 1.3650 and leave the remainder of the position to ride.

Long Trade 2

• Go long following bullish price action on the H1 time frame after the first touch of 1.3539.

• Place a stop loss 1 pip below the local swing low.

• Move the stop loss to break even when the price reaches 1.3570.

• Take off 25% of the position as profit at 1.3570 and leave the remainder of the position to ride.

Short Trade 1

• Go short following bearish price action on the H1 time frame after the first touch of 1.3687.

• Place a stop loss 1 pip above the local swing high.

• Move the stop loss to break even when the price reaches 1.3630.

• Take off 75% of the position as profit at 1.3630 and leave the remainder of the position to ride.

EUR/USD Analysis

The price action on Wednesday was suggesting a move up, but as I mentioned there was news due which could move the price anywhere. The price did in fact move down quite strongly to the end of Thursday, suggesting a second wave impulsive move down might be beginning. However, on Friday this downwards move failed to follow through, with Thursday’s low holding. Friday’s daily candle printed an indecisive doji.

The price has remained fairly near the low and it seems likely the direction will be down. However there is no news due today until after the London session, so quite probably Thursday’s low will hold until then.

A new development is that there is a flipped support level at 1.3575 which could be good for a long trade.

EUR/USD Forex Signal

There are no high-impact data releases scheduled for today concerning the EUR or USD during the London session. Therefore it is likely to be a very quiet day. The President of the ECB will speak at 6pm London time.

Related Articles
  1. Markets

    8 Sectors That Drones Are Influencing in 2016

    Find out which sectors of the economy are expected to be heavily influenced by the growing commercial application of aerial drones in 2016.
  2. Stock Analysis

    The Top 5 Small Cap Retail Stocks for 2016 (PLCE, FIVE)

    Pay close attention to the performance charts for small-cap retail stocks for signals demonstrating strength despite a disappointing quarterly earnings report.
  3. Stock Analysis

    Analyzing Johnson Controls’ Return on Equity (ROE) (JCI)

    Understand Johnson Controls' return on equity and the key drivers of profitability from an historical perspective and relative to its competitors
  4. Home & Auto

    Tax Breaks For Second-Home Owners

    The tax rules on a second home vary, depending on how the property is used.
  5. Trading Strategies

    Short Interest: What It Tells Us

    A stock’s short interest is the total number of shares that investors have sold short but have yet to close.
  6. Investing Basics

    ROA and ROE Give Clear Picture Of Corporate Health

    ROE indicates if a company’s value is growing at an acceptable rate. ROA reveals how much profit a company earns for every dollar of assets.
  7. Trading Strategies

    Mastering Short-Term Trading

    The proper application of a few different tools can help a short-term trader succeed.
  8. Home & Auto

    Ins And Outs Of Seller-Financed Real Estate Deals

    Seller financing works like this: Instead of a buyer receiving a loan from a bank, the person selling the house lends the buyer the money for the purchase.
  9. Insurance

    Indexed Universal Life: Flexibility and Safety

    A universal life insurance policy is a flexible form of permanent life insurance that offers the low-cost protection of term life with a savings element.
  10. Options & Futures

    How To Sell Put Options To Benefit In Any Market

    Selling a put option is a prudent way to generate additional portfolio income and gain exposure to desired stocks while limiting your capital investment.
RELATED FAQS
  1. How liquid are BlackRock mutual funds? (BLK)

    BlackRock, Inc. (NYSE: BLK) mutual funds are very liquid, as are all mutual funds. An investor receives payment for a redemption ... Read Full Answer >>
  2. When does a growth stock turn into a value opportunity?

    A growth stock turns into a value opportunity when it trades at a reasonable multiple of the company's earnings per share ... Read Full Answer >>
  3. What is arbitrage?

    Arbitrage is basically buying in one market and simultaneously selling in another, profiting from a temporary difference. ... Read Full Answer >>
  4. What is Fibonacci retracement, and where do the ratios that are used come from?

    Fibonacci retracement is a very popular tool among technical traders and is based on the key numbers identified by mathematician ... Read Full Answer >>
  5. What is a derivative?

    A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset, ... Read Full Answer >>
  6. What is finance?

    "Finance" is a broad term that describes two related activities: the study of how money is managed and the actual process ... Read Full Answer >>
COMPANIES IN THIS ARTICLE
Trading Center