Forex Signals – EURUSD Trust the System
PRO Update: This isn’t the announcement we keep teasing you with, but we just wanted to let you know that we are also in the processing of cleaning up the help section of PipHut (called the “Help Center” now) to make it easier than ever to trade with us. Check it out now!
Recap: After a lackluster (but still profitable) August our swing trading hit full stride yesterday with 4/5 pairs getting 50-80 pips into the profit for a 266 pip day. The only pair we didn’t trade, UJ, still got 40 pips into the profit on its support break if you took it. It just goes to show that when you trade a proven system with a track record, you need to trust in that system even when the results are not where you want them to be!
Our long was triggered on the 12:58 UTC resistance break yesterday at 1.2810. Our 80 pip target of 1.2890 was missed by just 5 pips and we are going to close out at current price (1.2866) for 56 pips profit.
EU has been in a very clear uptrend since late July now (when it was flirting with 1.20!). Since that 1.20 bounce the pair has climbed 800 pips. That climb, however, resembles a bearish flag pattern on the daily/weekly charts. However, we will continue to look up on the shorter term 4h charts until the bottom yellow rising support is broken.
Today’s Important News Events:
|06:00||EUR German Consumer Price Index (YoY) (AUG F)||2.0%||2.0%|
|06:00||EUR German Consumer Price Index – EU Harmonised (YoY) (AUG F)||2.2%||2.2%|
|07:00||EUR EU to Announce Details of Banking Union|
|08:00||EUR German Constitutional Court Announces ESM Ruling|
|08:30||GBP Jobless Claims Change (AUG)||0.0K||-5.9K|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: We would prefer to get long but with a solid rising support as our only S/R at the moment we will take a short on a support break with targets at 80 pips profit.
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