Free Forex Signals - 1.3830, Here We Come!
Signal Posted: 2013-12-12 09:31:27
EURUSD Daily Analysis: Price continues to march upward yesterday, as expected, touching just above 1.3800 in the process. Without copying and pasting yesterday's analysis (though it is definitely worth reading), there is still not enough bearish evidence to get short yet. Yes, waiting might mean we get a worse price when the turn finally does come, but has also shielded us from the short losses so many retail trades are hurting from at the moment. We just continue to take our small long positions on dips and count the pips upward. It is worth noting that the RSI has dipped below 70 on the current candlestick, a bearish signal, but not the one we are looking for all by itself.
Our Preferred Trades*: Our preference is to get short today, but on a rally above 1.38 to 1.3830 and we will only do it with candlestick confirmation, targeting 1.38, 1.3760 and 1.3720 in the process. The downside risk is of course 1.3870, which is where the intramonth falling resistance is (blue line on long-term chart).
Yesterday's EURUSD SwingPRO Signal Result: No SwingPRO trades taken yesterday.
Today's SwingPRO Signal: No support or resistance lines at the moment on the 4h charts so we will stay flat in the SwingPRO system for now.
*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:
|00:00||AUD Consumer Inflation Expectation (DEC)||2.1%||1.9%|
|00:30||AUD Employment Change (NOV)||21.0K||10.0K||-0.7K|
|00:30||AUD Unemployment Rate (NOV)||5.8%||5.8%||5.7%|
|00:30||AUD Full Time Employment Change (NOV)||15.5K||-31.1K|
|08:30||CHF Swiss National Bank Rate Decision (DEC 12)||0.0%||0.0%|
|09:00||EUR ECB Publishes Monthly Report|
|10:00||EUR Euro-Zone Industrial Production w.d.a. (YoY) (OCT)||1.1%||1.1%|
|13:30||USD Advance Retail Sales (NOV)||0.6%||0.4%|
|13:30||USD Retail Sales Less Autos (NOV)||0.2%||0.2%|
|13:30||USD Initial Jobless Claims (DEC 7)||320K||298K|
|15:00||USD Business Inventories (OCT)||0.3%||0.6%|
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