Forex Signals – EURUSD Sideways Consolidation
Important Poll! Please vote! Background: we are considering changing our trading schedule. Currently we do not trade Fridays due to lower volume that can create volatility. We also end up sending out an intraday update about 30-50% of the time on Mondays to give the charts a bit more time to develop. What we want to do is officially BEGIN trading Fridays (as we’ve noticed these days would actually be some of our most profitable days) and officially ALWAYS do an intraday update on Mondays. This would effectively give us another full day of trading while always giving the charts more time to develop their setups after the weekend. It sounds like a win-win to us but we want your feedback!
Today’s Poll: [polldaddy poll=6413347]
Recap: Our long was triggered at 1.2136 at 11:09 UTC. It went nowhere and our entry candle closed at 1.2108 for 30 pip loss.
We are still bearish on the pair but unfortunately it has been consolidating sideways since markets opened on leaving us without a clear rising support. There is another falling resistance and, despite the fact that Monday’s long didn’t pan out we will give this one another shot.
Today’s Important News Events:
|There are no events scheduled.|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: We are looking to get long on a resistance break with targets at 20/20/20/20 for 80 pips profit. We are overall bearish and will look to close and get short on a resistance break with the same targets.
* * * PipHut PRO* * *