Forex Signals – EURUSD Back on Bears

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December 13, 2012 8:01 PM EST

Recap: No trades to report on from yesterday as we stayed flat as promised. Actually, for the first time in quite awhile we had no trades triggered on any pairs. We are OK with that though because it is always better to miss out than to miss your equity...

Bulls continued to show remarkable strength above 1.30 but with 1.3150 looming large (next major resistance), a solid rising support beneath current price (last blue line) and overbought hourlies we are once again ready to look for our short on a support break.

Today's Important News Events:

DateTime (UTC)EventForecastPrevious
Dec 13
08:30 CHF Swiss National Bank Rate Decision (DEC 13) 0.00% 0.00%

09:00 EUR ECB Publishes Monthly Report (DEC)

13:30 USD Advance Retail Sales (NOV) 0.4% -0.3%

23:50 JPY Tankan Large Manufacturers Outlook (4Q) -9 -3

*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 with a TP of 80 and a SL of 50.

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