Forex Signals – EURUSD False Start

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February 5, 2013 1:47 AM EST

Recap: A rough start to the month for us as extreme volatility and false breaks caught us on the wrong side of a couple pairs on Friday. For EU on Friday our short was triggered at 1.36 on the support break, but unfortunately hit our SL on our entry candle for a 50 pip loss.

Going forward today without a close support/resistance line to give us that *pop* we look for in swing trading we will sit on the sidelines for all pairs except AU and give the Feb trends more time to develop before tomorrow's daily analysis.

Today's Important News Events:

Date Time (UTC) Event Forecast Previous
Feb 4
10:00 EUR Euro-Zone Producer Price Index (YoY) (DEC) 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 flat on EU today. We are short-term bearish after the bearish candle that just closed but we are also weary of the medium term uptrend.

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