Daily Outlook: Pairs didn't move a whole lot yesterday which makes us wonder - are we in the holiday lull already? Many traders take the entire month of December off and as we get closer to the end of the year the more holidays we have to compete with.
Short and sweet signal today: lull or no lull we are tracking a rising trend support (blue line) and will look to get long on bounces off this line and short on breaks below.
Trading Idea: Primary trade is a short on a break below our rising support (currently at 2990 and rising - PRO users subscribed to S/R for EU will get an email alert) with targets at 20/20/25/25 for 90 pips profit. We are keeping profits a little tighter than usual given the lack of follow through we've seen in the markets the past few days.
We will also look to get long on bounces above our rising support with smaller timeframe confirmation (candlesticks, etc) with targets at 20/20/20/20 for 80 pips max.
As always we will update S/R charts throughout the day in Pro.