EUR/USD Signal Update
Last Thursday’s signals were not triggered and expired.
Today’s EUR/USD Signals
Entries may be made only between 8am and 5pm London time today.
Long Trade 1
Go long at the first touch of 1.3487.
Place a stop loss at 1.3454.
Move the stop loss to break even when the price reaches 1.3520.
Remove 50% of the position as profit at 1.3520 and leave the remainder of the position to ride.
Short Trade 1
Go short at the first touch of 1.3687.
Place a stop loss at 1.3720.
Move the stop loss to break even when the price reaches 1.3640.
Remove 50% of the position as profit at 1.3640 and leave the remainder of the position to ride.
Last Thursday saw a continued move upwards as expected, but the bearish trend line that I highlighted did act as stronger resistance than anticipated, and the upwards move was halted there and then the price then fell during the next day.
At the time of writing, we are moving slowly upwards today off local, probably weak support at around 1.3680.
It is hard to say what will happen next. The medium-term price action suggests bullishness, and if we test the bearish trend line again soon it might well break and pave the way for a move all the way up to 1.3688.
Below us, the support is hard to define exactly, but it is there and we have seen a “u-shaped” bottom at around the key psychological level of 1.3500.
I agree with my colleague Christopher Lewis who says that the near-term outlook for this pair is a range between around 1.3500 and 1.3700.
There are no high-impact data releases scheduled today for the hours after publication that might directly affect the EUR. Later at 3pm London time there will be a release of US Existing Home Sales data, which may affect the USD. It might be a fairly quiet day today for this pair.
Investing BasicsIn times of market volatility, investors add alternative assets to their portfolios--highly illiquid, but profitable investments like art, land or precious metals.
InvestingBased on recent data from the Treasury-Inflation Protected Securities (TIPS) market, it would seem that most investors aren’t worried about inflation.
InvestingWe are still unsure of how to implement a currency hedge strategy based on the dollar's movement. So let’s focus on what’s easier to measure: time horizon.
Mutual Funds & ETFsLearn why growth investors should consider investing in VWO's portfolio of emerging market stocks.
ProfessionalsPrepare to ace the CFA Level 1 exam by studying systematically.
InvestingChina's economy may be larger than the U.S. economy, but it all depends on which exchange rate method you use to make the GDP comparisons.
InvestingYahoo is much more than a web portal. Here are four companies owned by the multibillion-dollar conglomerate.
InvestingCertain types of trust funds can help to protect your assets from bankruptcies and civil actions, and can be established to safeguard your children and designated beneficiaries.
Stock AnalysisIf you're seeking modest appreciation, generous dividend payments and resiliency, consider these eight utility stocks.
Investing BasicsMunicipal bonds are a good addition to a diversified portfolio as long as you choose correctly based on population and local economic trends.
Contributions to a 529A plan are limited up to the annual gift tax exclusion limit, currently $14,000 a year in after-tax ... Read Full Answer >>
According to the Achieving a Better Life Experience Act of 2014 (ABLE Act), when the designated beneficiary of a 529A account ... Read Full Answer >>
According to the Achieving a Better Life Experience Act of 2014 (ABLE Act), a disabled person can generally set up only one ... Read Full Answer >>
According to a 2015 Government Accountability Office (GAO) study, people between the ages of 55 and 64 with any retirement ... Read Full Answer >>
A mutual fund's price, or its net asset value (NAV), is determined once a day after the markets close at 4 p.m. Eastern time ... Read Full Answer >>
A mutual fund can be opened under the name of a minor through a custodial account overseen by a guardian. The custodian holds ... Read Full Answer >>