EUR/USD Signal Update
Yesterday's signals were not triggered and expired. The price did reach 1.2166 but passed the level without bearish price action.
Today's EUR/USD Signals
Risk 0.75%
Trades may only be started between 8am and 5pm London time.
Short Trade 2
Short entry after bearish price action on the H1 time frame immediately following the next touch of 1.2219.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 3
Short entry after bearish price action on the H1 time frame immediately following the next touch of 1.2268.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Long Trade 1
Long entry after bullish price action on the H1 time frame immediately following the next touch of 1.2041.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 40 pips in profit.
Remove 25% of the position as profit when the trade is 40 pips in profit and leave the remainder of the position to run.
EUR/USD Analysis
I had expected that we would reach 1.2200 yesterday but it was a very weak day overall without much clear movement or direction. The price has fallen overnight to put us back where we were at London open yesterday. The last day of the year often does produce a move, but there is no sign of it yet.
There are no high-impact data releases scheduled today concerning the EUR. It is a public holiday in Germany. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.
