EUR/USD Forex Signal May 27, 2015

EUR/USD Signal Update

Yesterday’s signals were not triggered as the price never reached either 1.0813 or 1.1005.

Today’s EUR/USD Signals

Risk 0.75%

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

Short Trade 1

• • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.0956.
• • 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.
• • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Short Trade 1

• • Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.1005.
• • 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.
• • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 1

• • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of the trend line currently sitting at around 1.0805.
• • 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.
• • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 2

• • Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of the trend line currently sitting at around 1.0735.
• • 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.
• • Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

EUR/USD Analysis

It seems that the price made a round bottom overnight, suggesting the London session will have an upwards bias which will be capped at around 1.0956, which might provide a good reversal giving a short opportunity. The area below at around 1.0800 should be very strong support, as it is a flipped horizontal level confluent with a well-established trend line.

Click on picture to enlarge

There will be G7 Meetings all day.