EUR/USD Forex Signal - June 23, 2016

EUR/USD Signal Update

Yesterday’s signals were not triggered.

Today’s EUR/USD Signals

Risk 0.75%

Trades may only be entered between 8am and 5pm London time today.

Long Trades

• Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.1280 and 1.1234.
• Place the stop loss 1 pip below the local swing low.
• Move the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.

Short Trade 1

• Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1477.
• Place the stop loss 1 pip above the local swing high.
• Move the stop loss to break even once the trade is 20 pips in profit.
• Take off 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride.

EUR/USD Analysis

This pair started to turn bearish just a whisker away from 1.1300 before finding new support at 1.1280 and turning bullish. The price is now heading back up, largely on the back of an increasing expectation of a Remain vote in the British referendum today.

(Click on image to enlarge)

There is nothing due concerning the EUR. Regarding the USD, there will be a release of Unemployment Claims data at 1:30pm London time.