Forex Signals – EURUSD Taking a Breather

Recap: We wanted to let you know that a fix has been applied to the break detection system. A support break occurred yesterday but no SwingPRO alert was sent out. In an effort to provide the the best service we made a slight tweak to PRO break alert system earlier this week to reduce the # of false break alerts, which prevented a valid break like this one from going out. We apologize for the inconvenience and thank you for the quick response of our member to let us know of the error.

As we mentioned above their was a support break yesterday but we did not take it because no PRO alert was sent out. If you did manage to take the break then your short got 50 or so pips into the profit depending on your entry before turning upward.

Price is currently taking a breather (sitting still) underneath falling resistance connecting the highs of Oct 17th with Oct 22nd. Price is slightly more bullish than bearish on the 4h charts, especially in the short-term due to the nice recent rally, but we will trade either direction today: short on a support break or long on a resistance break.

 

Today’s Important News Events:

Date

Time (UTC)

Event

Forecast

Previous

     

Thu
Oct 25

08:30

GBP Gross Domestic Product (QoQ) (3Q A)

0.6%

-0.4%

     
 

08:30

GBP Gross Domestic Product (YoY) (3Q A)

-0.5%

-0.5%

     
 

12:30

USD Durable Goods Orders (SEP)

7.5%

-13.2%

     
 

*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.

 
     

Trading Idea: Short on a support break or long on a resistance break with targets at 80 pips, SL at 50 pips. We will take one trade in either direction for this pair (for a total of two trades today, one trade open at a time), closing one if a break in the opposite direction occurs.

 

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