3:46a GMT - Resistance at 1.4980 proved to be the entry point yesterday as we got several bearish entry signals on the 30m and 1h charts to enter yesterday for about 60 pips (closed on failure of second target at 1.4915). By the way, the Candlestick Alert Service gave us several good signals on the 30m chart at 1.4980 - signals that yielded good pips if you were checking it out. I've gotten great feedback on the service so far, let me know your thoughts if you haven't already.
Daily Outlook: Today I will pretty much sit on the sidelines no matter what happens. We have a major US holiday tomorrow (Thanksgiving) which means markets will be thin. Couple that with a variety of news events around the EUR and USD and you have a stop-killing-day waiting to happen. To those more adventurous souls we are nearing resistance at 1.5000 and 1.5015 if you are still looking for reasons to short. While we are still caught in the bearish channel yesterday stopped short of confirming the bearish trend.
Trading Idea: Again, I will be on the sidelines, but there will be selling opportunities at 1.50 and 1.5015 for those interested with targets down to 1.4950, 1.4915 and 1.4880.There will also be buying opportunities if you are feeling bullish on the pair with dips down to 1.4900.
Forex Signals - EUR/USD Mixed Signals; Happy Thanksgiving! is a post from: PipHut.com