Forex Signals - EURUSD Swing Weather

By IBTimes Staff Reporter | April 17 2012 3:14 AM

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 :).

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Today's Important News Events:

Date Time (UTC) Event Forecast Previous

Tue Apr 17
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.