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.
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:
|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%|