Forex Signals – Bulls in a Bear’s World
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Recap: No trade taken yesterday to report on as the support break that would have triggered our short never occurred. Instead support held and actually “trampolined” the price to challenge the 1.22 area.
This is great news for any “bounce” traders as the pair did kick out a proximity alert just 10 minutes after our signal yesterday at 1.2063 – a 100 pip bounce!
Today’s Important News Events:
|12:30||USD Durable Goods Orders (JUN)||0.3%||1.3%|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: We will look to get long on a resistance break (price is flirting with resistance right now) with targets at 20/20/20/20 for 80 pips.
We are bearish on the pair but, there is no support for us to trade off of at the moment.
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