Recap: Our SL at 2533 did the trick as our short from Tuesday Our short from Tuesday got 75 pips into the profit - just missing our 80 pip target. We are closing out at current price (1.2430) for 53 pips profit.
We are still technically bearish on the pair as it continues to make lower lows (downtrend) after the double failure at 1.2750 in mid-June.
Today's Important News Events:
|07:55||EUR German June Unemployment Data Released by Federal Labor Agency (MAY)|
|07:55||EUR German Unemployment Change (JUN)||3K||1K|
|08:30||GBP Gross Domestic Product (QoQ) (1Q F)||-0.3%||-0.3%|
|08:30||GBP Gross Domestic Product (YoY) (1Q F)||-0.1%||-0.1%|
|12:30||USD Gross Domestic Product (Annualized) (1Q T)||1.9%||1.9%|
|12:30||USD Gross Domestic Product Price Index (1Q T)||1.7%||1.7%|
|12:30||USD Core Personal Consumption Expenditure (QoQ) (1Q T)||2.1%||2.1%|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: We are still bearish but the charts are a bit mixed at the moment without a solid falling resistance or rising support for us to trade off. 1.2450 is a decent horizontal resistance but not solid enough for us to risk our equity with.