Recap: We were whipped out of two positions yesterday in EU: first our short was triggered on the 9:20 support break at 1.2862. That short got over 30 pips into the profit before turning upward and hitting our tightened SL for a 30 pip loss. Then our long got triggered at 1.2917 but that entry candle closed at 1.2910 for a 7 pip loss (false break).
We are short-term bullish on the pair after the resistance break, seeing another challenge of 1.32 next week, but we’ll have to see how the markets open on Monday.
Today’s Important News Events:
|12:30||USD Personal Consumption Expenditure Core (YoY) (AUG)||1.6%||1.6%|
|*To see a more extensive list of news events (not just those we consider important), visit our forex calendar.|
Trading Idea: As mentioned above we are short-term bullish now but without a solid falling resistance to enter off of we will stay flat before the looming weekend. Aggressive traders could look to get long on a dip/boumce/proximity alert to rising support with targets to 1.30 before the weekend.
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