EUR/USD Signal Update

Yesterday’s signals were not triggered and expired. Although the price did touch 1.3643, there was no sufficiently bullish price action to justify an entry before the London close.

Today’s EUR/USD Signals

An entry may only be made between 2pm and 5pm London time today.

Short Trade 1

Short entry following bearish price action on the H1 time frame after the first touch of 1.3748.

Put a stop loss 1 pip above the local swing high.

Adjust the stop loss to break even when the price reaches 1.3705.

Take off 75% of the position as profit at 1.3705 and leave the remainder of the position to run.

EUR/USD Analysis

Yesterday saw a fairly gentle falling off which continued with the news release early during the New York session. Some support was found as we fell to touch the bullish trend line I talked about yesterday at around 1.3643, but the support was not strong and we have now fallen below that trend line quite weakly, so it will probably now become irrelevant.

The US Non-Farm Payroll data will be released today one day earlier than usual due to the public holiday in the USA tomorrow. It would be foolish to enter any trades before that news release.

Unfortunately there are no obvious good support levels below us above 1.3500, so I am restricted to hoping the news releases will push the price up to 1.3748 and hope for a reversal there confirmed by price action.


There are very high-impact data releases scheduled for today concerning both the EUR and the USD. At 12:45pm London time the EUR Minimum Bid Rate will be announced, followed by the US Non-Farm Employment Change, Unemployment Rate, Unemployment Claims, and Trade Balance data at 1pm. Then at 3pm there will be the US ISM Non-Manufacturing PMI. It is likely that from the time of the US data releases, the pair will be extremely volatile.

Related Articles
  1. Investing Basics

    What Does Plain Vanilla Mean?

    Plain vanilla is a term used in investing to describe the most basic types of financial instruments.
  2. Economics

    Explaining Manufacturer’s Suggested Retail Price

    The manufacturer’s suggested retail price (MSRP) is just what it describes – the price manufacturers recommend that retailers charge for their goods.
  3. Economics

    What Happens in a Make-or-Buy Decision?

    A make-or-buy decision happens when a company must choose to either manufacture an item itself, or buy it premade from a supplier.
  4. Insurance

    Explaining Indemnity Insurance

    Indemnity insurance is an insurance policy that protects business owners and employees from losses due to failure to deliver expected services.
  5. Investing Basics

    What Does In Specie Mean?

    In specie describes the distribution of an asset in its physical form instead of cash.
  6. Insurance

    What is a Force Majeure?

    A force majeure clause frees both parties in a contract from fulfilling their obligations in the event of some catastrophic or unexpected occurrence.
  7. Credit & Loans

    Explaining Equated Monthly Installments

    An equated monthly installment is a fixed payment a borrower makes to a lender on the same date of each month.
  8. Economics

    Calculating Days Working Capital

    A company’s days working capital ratio shows how many days it takes to convert working capital into revenue.
  9. Economics

    Calculating Cross Elasticity of Demand

    Cross elasticity of demand measures the quantity demanded of one good in response to a change in price of another.
  10. Economics

    Explaining Corporate Tax

    A corporate tax is a tax levied on the profits a corporation generates.
  1. Can I borrow from my annuity to put a down payment on a house?

    You can borrow from your annuity to put a down payment on a house, but be prepared to pay an assortment of fees and penalties. ... Read Full Answer >>
  2. Why is the Cayman Islands considered a tax haven?

    The Cayman Islands is one of the most well-known tax havens in the world. Unlike most countries, the Cayman Islands does ... Read Full Answer >>
  3. Can mutual funds invest in hedge funds?

    Mutual funds are legally allowed to invest in hedge funds. However, hedge funds and mutual funds have striking differences ... Read Full Answer >>
  4. Why is Luxembourg considered a tax haven?

    Luxembourg has been the tax haven of choice for many corporations and mega-rich individuals around the world since the 197 ... Read Full Answer >>
  5. Who decides to print money in Canada?

    In Canada, new money comes from two places: the Bank of Canada (BOC) and chartered banks such as the Toronto Dominion Bank ... Read Full Answer >>
  6. What are the main kinds of annuities?

    There are two broad categories of annuity: fixed and variable. These categories refer to the manner in which the investment ... Read Full Answer >>

You May Also Like

Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!