By: DailyForex.com

EUR/USD Signal Update

Yesterday’s signals expired without being triggered as the price never hit either 1.3555 or 1.3688.

Today’s EUR/USD Signals

Risk 0.75%

Entries must be taken before 5pm London time today.

Long Trade 1

Go long after bullish price action on the H1 time frame following a first touch of 1.3555.

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

Move the stop loss to break even when the price reaches 1.3645.

Remove 75% of the position as profit at 1.3645 and leave the remainder of the position to ride.

Short Trade 1

Go short after bearish price action on the H1 time frame following a first touch of 1.3688.

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

Move the stop loss to break even when the price reaches 1.3655.

Remove 50% of the position as profit at 1.3655 and leave the remainder of the position to ride.

EUR/USD Analysis

Although there were no high profile news events yesterday, and despite the holiday in several Eurozone countries, the EUR fell yesterday across the board, although not very strongly. The price reached a low about 30 pips from our support zone which begins at 1.3555, and it is currently rising a little from there, albeit tentatively.

It is very difficult to say what will happen next, as it is likely to be a quiet day of trading today. It is quite likely the support at around 1.3555 will hold if we move down there, especially if this happens shortly after the beginning of the London session.

EURUSD 61014

There are no high-impact news events scheduled for today concerning either the EUR or the USD. It will probably be a quiet day for this pair.
Filed Under:
Forex pairs in this Article » EUR/USD

comments powered by Disqus
Trading Center