I didn't open any new trades yesterday as the price never retraced far enough to interest me in selling, nor did it ever consolidate on a support level long enough for me to sell a break. I did mention I still had one short still open from these levels [1.3400] but stop is at break even and I am playing on house money. I covered that at 1.3300 for +100 pips.

On quick side note, check your email this weekend.  As I've always mentioned PipHut is all about you, the community, and tomorrow I'm going to roll out a really, really cool friends feature. It will allow you to friend other members of the PipHut community, create a profile for yourself, update that profile with your trades, etc. One of the best things about it is to see a user's comment history. Right now you have to manually go through every signal and search for a comment you are looking for. But with the new friends feature you'll just be able to click on my name, for example, and see every comment I've ever made on PipHut! Very cool.

Daily Outlook: It's Friday and you all know how I feel about trading on Fridays - it's great if you like losing money. That being said there are some interesting setups I'm watching that if they occur early enough in the day I wouldn't mind opening up a small, single lot position. It was a bullish day yesterday but that doesn't mean I've given up on the bears. We are caught in a variety of bearish channels with only a couple good support lines underneath us so I will continue to look at selling opportunities.

Trading Idea: Primary trade is a short from 1.3405 with targets at 1.3380, 1.3350, 1.3315. This is an area of resistance on several timeframes and also the 38.2 fibonacci retracement of April 1's high to yesterday's low. Secondary trade is a break below 1.3340 support which has been consolidating for awhile on the 1h charts. I'd like to see it consolidate further but a sustained break below would open up 1.3315, 1.3290 and 1.3265.

(click to enlarge)

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Source: Forex Signals - EUR/USD Friday Night Bears
Forex signals from: PipHut.com