Recap: All targets were hit on long from yesterday for 90 pips, after the long was triggered at 1.3032 on the resistance break. PRO emails were sent out at 12:33 UTC on the trigger. We welcome a strong start to the week after last week's choppy price action prevented us from putting too much profit in our pockets :).
Today's Important News Events:
|01:30||AUD Reserve Bank Board April Minutes|
|08:30||GBP Consumer Price Index (YoY) (MAR)||3.4%||3.4%|
|08:30||GBP Core Consumer Price Index (YoY) (MAR)||2.3%||2.4%|
|09:00||EUR Euro-Zone Consumer Price Index - Core (YoY) (MAR)||1.5%||1.5%|
|09:00||EUR Euro-Zone Consumer Price Index (YoY) (MAR)||2.6%||2.7%|
|09:00||EUR German ZEW Survey (Economic Sentiment) (APR)||19.0||22.3|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Plenty of news coming out of Europe today, but nothing too earth-shattering in our opinion and we will continue with business as normal. The pair has been making nice, large up and down swings - perfect for our swing trade style which paid off yesterday across the pairs we trade.
With a potential bullish flat formation being formed on the 4h charts we will look to take an aggressive long on a resistance break to start our day, while also looking for reasons to get short if a rising support forms and is broken.
Trading Idea: We are looking to get long on a resistance break (pro email signals will be sent out) with targets at 20/20/20/25 for 85 pips profit. As mentioned above we will look to close and get short if a support line forms and is broken.