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Recap: Price flirted with - but did not break - our rising support yesterday so we stayed flat on this pair. Surprisingly UJ was the only pair that had a trade setup triggered (20 pips profit) as the markets stayed calm for the most part.
EU is steadily trickling upward, respecting our support line and making the eventual break that much juicier. GU and AU are almost guaranteed to have a breakouts today as well.
Today's Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Wed Dec 5 |
00:30 | AUD Gross Domestic Product (QoQ) (3Q) | 0.6% | 0.6% |
| 00:30 | AUD Gross Domestic Product (YoY) (3Q) | 3.1% | 3.8% | |
| 10:00 | EUR Euro-zone Retail Sales (YoY) (OCT) | -0.8% | -0.8% | |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: With our rising support still firmly intact we will continue to look to get short on a support break with a TP of 80 and a SL of 50.
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