Forex Signals – EUR/USD The Bullfrog Bounce
Daily Outlook: Good morning/evening, PipHutters! Many of you pointed out yesterday that our site was being invaded by bullfrogs all over the place in place of images. This has been fixed but perhaps we should have followed the warning of the BULLfrogs - price is going up!
On the daily charts the resistance we pointed out in yesterday's post is still mostly intact, but the bullish break did extend past on the 4h charts and it is enough for us to start looking north a bit more. The pair obviously has a bullish tint to it, rising almost 1000 pips in the past 2 weeks alone. The real obstacle between us and 1.400 is the overbought nature of the charts right now - the pair, a mentioned above, has risen almost 1000 pips in the past couple weeks; there is no point in trying to swim against that current!
Trading Idea: We will look to go long on a short dip to 1.3650-3680 support region with targets at 1.3700, 3725, 3750 and 3800 for ~100 pips profit.
The alternative trade is to short around current area (1.3740) with targets down to 3710, 3680 and 3640 for 100 pips
Sign up for free forex signals via email here
READ ME: Using PipHut's Free Signals
Forex Income Calculator
Forex Market Hours