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.
TaxesTaxes aren't avoidable, but you shouldn't pay more than your fair share. Here are five moves you can make at year's end to lower your tax bill.
Active TradingReturn on investment is a simple equation that can give you an edge when fine-tuning your portfolio - here's how to use it.
InvestingFreelancers are not covered under the Family and Medical Leave Act, but maternity leave is still doable with these tips.
RetirementLearn how to decide between a traditional or Roth version of the 401(k), 403(b) or 457(b) retirement plans to help you build your nest egg.
Mutual Funds & ETFsExchange-traded funds offer an investment alternative to cost-conscious millennials who want to diversify their portfolios with less risk.
MarketsThe Labor Market Conditions Index is a new Fed indicator to track labor statistics. How useful is it?
InvestingManagers must make investment decisions based on their personal investment process, which in turn should be based on solid research and due diligence.
InvestingInvestment managers should always act to benefit the client. Learn what actions managers should take on a client's behalf.
Investing BasicsHere's everything you need to account for when calculating the present and future value of annuities.
EconomicsA look at the top ten economies in the world.
North Korea is one of the poorest and least developed countries in the world. It is far from a developed country. Because ... Read Full Answer >>
NetSpend accepts some types of wire transfers to add money to the prepaid debit cards it issues to its customers. There are ... Read Full Answer >>
As of 2015, Mexico is not a developed country. However, it beats the majority of its peers in the developing world on most ... Read Full Answer >>
Despite having the world's second-largest economy and third-largest military, China is still, as of 2015, not classified ... Read Full Answer >>
Federal Housing Administration (FHA) loans require escrow accounts for property taxes, homeowners insurance and mortgage ... Read Full Answer >>
Greece is a developed country by most meaningful metrics. However, its financial struggles have been well documented in the ... Read Full Answer >>