Free Forex Signals – Bears Watching Fed Minutes
EURUSD Daily Analysis: The US Dollar rallied hard against most currencies yesterday, including the Euro as key support at 1.3330 was blown out to reach as low as 1.3275. Technically we remain bearish on the pair and are looking to sell into rallies. US Fed minutes are due out at 18:00 today which could cause some turbulence as market participants digest the minutes for any hint of an interest rate hike timeline. General consensus is that the first rate hike will be early to mid 2015, and that bond and mortgage purchases will end in October of this year.r
Our Preferred Trades*: We remain bearish on the pair below 1.34 and are looking to fill a sell limit at 1.3330, SL @ 1.3365 (above recent lows), TP @ 1.3230.
Yesterday's EURUSD SwingPRO Signal Result: No EU trades taken yesterday.
Today's SwingPRO Signal: Short on support breaks. See preferred trade above.
*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:
|04:30||JPY All Industry Activity Index (MoM) (JUN)||-0.4%||-0.4%||0.6%|
|08:30||GBP Bank of England Minutes|
|18:00||USD Fed Releases Minutes from July 29-30 FOMC Meeting|
|23:50||JPY Japan Buying Foreign Bonds (Yen) (AUG 15)||¥232.6B|
|23:50||JPY Japan Buying Foreign Stocks (Yen) (AUG 15)||¥175.7B|