EUR/USD Signal Update

Yesterday’s signals were not triggered as the price never reached either the bullish trend line or 1.3687.

Today’s EUR/USD Signals

Risk 0.75% equity.

Entries may only be made between 8am and 5pm London time today.

Long Trade 1

Long entry following bearish price action on the H1 time frame after the first touch of the bullish trend line currently sitting at about 1.3535.

Put a stop loss 1 pip below the local swing low.

Adjust the stop loss to break even when the price reaches 1.3570.

Remove 75% of the position as profit at 1.3570 and leave the remainder of the position to ride.

Short Trade 1

Short entry following bearish price action on the H1 time frame after the first touch of 1.3687.

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

Adjust the stop loss to break even when the price reaches 1.3610.

Remove 75% of the position as profit at 1.3610 and leave the remainder of the position to ride.

EUR/USD Analysis

As expected, yesterday was a very quiet day, with a total range of only about 33 pips on the GMT daily candle, which was hardly more than the range from 4th July, which was a major public holiday. I did write yesterday morning that the area at around 1.3575 might prove to be supportive enough to have set the low for the day and I was right about that. Yesterday was actually the first up day for the whole previous week.

We cannot really take any new information from yesterday except that there is the possibility we might have formed the low for a few days or even the week, although the move up so far can hardly be called strong.

It is likely that we will again have a very quiet day today as there is no important news due for either side of this currency pair.

We are almost halfway between the closest important levels which are currently 1.3535 and 1.3687. My colleague Christopher Lewis agrees with me, saying we are “in the middle of no-man’s land”.


There are no high-impact data releases scheduled for today concerning either the EUR or the USD. Therefore it is likely to be a very quiet day.

Related Articles
  1. Economics

    The Biggest Oil Towns in North Dakota

    Learn how the oil boom in North Dakota has transformed two small towns from sleepy agricultural outposts to booming centers of industry almost overnight.
  2. Mutual Funds & ETFs

    The 4 Best Buy-and-Hold ETFs

    Explore detailed analyses of the top buy-and-hold exchange traded funds, and learn about their characteristics, statistics and suitability.
  3. Chart Advisor

    Bumpy Roads Ahead In Transportation

    Investors are keeping an eye on the transportation industry. We'll take a look at the trend direction and how to trade it.
  4. Investing

    How ETFs May Save You Thousands

    Being vigilant about the amount you pay and what you get for is important, but adding ETFs into the investment mix fits well with a value-seeking nature.
  5. Retirement

    10 Ways to Save Your Retirement: It's Not Too Late

    It's not too late to start saving for your retirement, even if you took longer to start thinking about it and doing something about it.
  6. Investing

    How To Create a Winning Elevator Pitch

    Whether you are talking to potential investors, partners, customers or employees, the skill of being able to concisely summarize your business is critical.
  7. Investing

    Why Is Financial Literacy and Education so Important?

    Financial literacy is the confluence of financial, credit and debt knowledge that is necessary to make the financial decisions that are integral to our everyday lives.
  8. Retirement

    5 Ways to Use Your Home to Retire

    Retirement is going to cost a lot, and for homeowners who face a shortfall, their home can be a source of income. From downsizing to renting, here's how.
  9. Home & Auto

    5 Luxurious Ways to Boost Your Home's Resale Value

    Not all renovations are created equal. Here are five that are most likely to make a property appreciate (and be appreciated by househunters).
  10. Personal Finance

    5 Useless Financial Products That Will Disappear Soon

    Bank deposit slip: what's that? Everyday tools of our financial life that went from indispensable to obsolete.
  1. Do prepayments provide working capital?

    Prepayments, or prepaid expenses, are typically included in the current assets on a company's balance sheet, as they represent ... Read Full Answer >>
  2. Why have mutual funds become so popular?

    Mutual funds have become an incredibly popular option for a wide variety of investors. This is primarily due to the automatic ... Read Full Answer >>
  3. Who do hedge funds lend money to?

    Many traditional lenders and banks are failing to provide loans. In their absence, hedge funds have begun to fill the gap. ... Read Full Answer >>
  4. Do mutual funds pay dividends?

    Depending on the specific assets in its portfolio, a mutual fund may generate income for shareholders in the form of capital ... Read Full Answer >>
  5. How can companies use the cash flow statement to mislead investors?

    Cash flow is a means for most investors to examine the actual economics of a business they might invest in, especially from ... Read Full Answer >>
  6. Can working capital be too high?

    A company's working capital ratio can be too high in the sense that an excessively high ratio is generally considered an ... 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!