Daily Outlook: Good bearish movement yesterday as the pair closed about 100 pips below its open, established a new lower low and a lower high. Fundamental news continues to follow the narrative of risk-aversion, with news events influencing smart money's decision to buy and short risk - not a particular economy.

I still have half my short open (see recap above) and will only add to it on a Friday if the setup is great. I will close it going it to the weekend no matter what.

Trading Idea: For those looking to enter on the day, or for an opportunity to add to you shorts, my primary strategy is to sell into rallies. Primary resistance to sell at is yesterday's support - short @ 1.3600 with targets at 1.3570, 1.3540 and 1.3510 (for 90 pips). Looking for candlestick confirmation on a Friday. Secondary (more aggressive trades) are a long above 1.3600 and short below 1.3510. I'm not likely to take the aggressive long.


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Source: Forex Signals - EUR/USD Bears Take a Friday Stroll
Forex signals from: PipHut.com