4:46a GMT - The USD has made an amazing recovery against the Euro in recent days, and signals might point toward a continued recovery Thursday. We have two event risks with the EUR/USD we will have to watch closely to see how the market reacts: the US GDP in the afternoon and Germany's unemployment rate in the morning. As always recently the USD is also heavily tied to the performance of US stocks - a recovery in US stocks will likely mean an increase in the EUR/USD as risk appetite creeps back into the market.

With over 300 pips dropped in 2 days we are at risk of a better correction in the pair, but we will continue to sell the trend and look to enter shorts on rallies and bearish candlestick signals near resistance.

Trading Idea: Prefer shorts under 1.4800 (first resistance at 1.4750) with targets at 1.4755, 1.4725 and 1.4680.

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Forex Signals - EUR/USD Still Selling Resistance is a post from: PipHut.com