Forex Signals – EURUSD Friday Short
Recap: Our short was triggered yesterday on the 14:37 resistance break at 1.2524. That short quickly jumped 35 pips into the profit before consolidating upward. Our short is still open and 24 pips in the profit currently.
We have three profitable trades open from yesterday and we will keep all of them open today (and not open any new trades): short on EU, short on GU, and long UChf.
After the support break yesterday in EU there is still plenty of room to fall. We are most concerned with the effect Bernanke’s speech will have on the markets even we know that most likely the speech will cover absolutely nothing new and simply say: “we wish the economy was better. There are some promising signs but we stand ready to do more if need be” – and then the markets will explode :).
Today’s Important News Events:
|14:00||USD Fed’s Bernanke Speaks at Jackson Hole Economic Policy Symposium|
|18:30||EUR IMF’s Lagarde Speaks at Jackson Hole Economic Policy Symposium|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: We will keep our short open from 1.2524 with targets at 1.2444 for 80 pips profit.
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