Recap: Our short was triggered at 1.2483 yesterday on the 8:52 UTC support break and quickly jumped 40 pips into the profit. We are still in the trade (currently at about 5 pips in the red) as we are giving the short room to breathe on the bearish technicals.
Today's Important News Events:
|12:00||EUR German Consumer Price Index (YoY) (JUN P)||1.8%||1.9%|
|12:00||EUR German Consumer Price Index - EU Harmonised (YoY) (JUN P)||2.1%||2.2%|
|12:30||USD Durable Goods Orders (MAY)||0.5%||0.0%|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: We are still bearish on the pair and will be moving our SL back to 1.2533 (50 pips) to give our short room to develop. If we were not already short today we would be looking to enter short on a support break with targets at 80 pips.