Free Forex Signals – Yellen Gets Aggressive

EURUSD Daily Analysis: The Euro gave over 180 pips to the US dollar yesterday on Yellen’s remarks. In short the new Fed chair stated that rates would remain unchanged for now (expected) but that they could be raised as soon as 2015 (much more aggressive language than anyone thought). While this might be coordination with the ECB to keep the exchange rate below 1.40 (Draghi’s target) via forward guidance, the result is the same – USD strength.

Technically the pair fell out of its bullish channel that it has been in since January, another bearish signal, and the strength index confirms that this downward move has staying power.

4h Chart

Long-term Trend Analysis Chart

Our Preferred Trades*: In light of that we are looking to get short on a rise above 1.3810 with bearish confirmation (support break, candlestick, etc.), targeting a drop to next major support at 1.3700.

Yesterday’s EURUSD SwingPRO Signal Result: No setups triggered yesterday.

Today’s SwingPRO Signal: Short on support break above 1.38 with a TP of 80 and a SL of 50.

*CandlePRO: CandlePRO can be used in conjunction with our daily analysis and “our preferred trades.” For example, if we prefer “going short” or “selling a rally” then we would look for bearish candlestick signals after a rally or near resistance levels. Alternative if we prefer “going long” or “buying a dip” then we would look for bullish candlestick signals on price drops or near support levels.

Today’s Important News Events:

Date Time (UTC) Event Actual Forecast Previous
Thu
Mar 20
07:00 CHF Trade Balance (Swiss franc) (FEB) 2.62B 2.55B
07:15 JPY BoJ Governor Kuroda Speaks at JCCI
08:30 CHF Swiss National Bank Rate Decision (MAR 20) 0.00% 0.00% 0.00%
12:30 USD Initial Jobless Claims (MAR 15) 320K 322K 315K
12:30 USD Continuing Claims (MAR 8) 2889K 2880K 2848K
14:00 USD Philadelphia Fed. (MAR) 9.0 3.2 -6.3
14:00 USD Existing Home Sales (MoM) (FEB) -0.4% -0.4% -5.1%
14:00 USD Leading Indicators (FEB) 0.5% 0.2% 0.1%
20:00 USD Fed Releases Dodd-Frank Act Supervisory Stress Test Results
23:00 AUD Conference Board Leading Index (JAN) 0.8%

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Join the Discussion!

  1. Johnny
    March 21, 2014 at 12:10 Reply

    Gone Long 3775, sl 3735 and tp 3950.

  2. Johnny
    March 21, 2014 at 12:15 Reply

    error + sl @3725 and not 3735 , small type mistake(3730 lays good sup)

  3. Profile photo of Dragan Stojanovic
    Dragan Stojanovic
    March 21, 2014 at 14:01 Reply

    @johnny,
    welcome back… without you it was pretty boring here ;-)
    it’s friday afternoon and although 4h charts are pointing to north I still believe that we’ll go south soon (daily chart)… i may be wrong and i’ll stay aside today and monday morning…
    enjoy the weekend… i’m really glad so see your comments again
    d

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