Recap: Our long from 1.3347 got 25 pips into the profit before reversing and hitting our tightened SL for a 20 pip loss.
Today's Important News Events:
Date Time (UTC) Event Forecast Previous
Thu Mar 29
EUR German Unemployment Change (MAR)
USD Gross Domestic Product (Annualized) (4Q T)
USD Gross Domestic Product Price Index (4Q T)
*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.
We had some choppy consolidation yesterday and are looking for a smoother ride today as the pair bounces along the top side of a longer term rising trend support line (blue line on chart above). Overall we are more bullish than bearish, at this point, though the pair has been looking for a stronger direction since the week open.
Trading Idea: We will look to get short on a support break with targets at 20/20/25/25 for 90 pips profit.