Recap: No trades taken yesterday to report on as the pair only moved a handful of pips from yesterday's intraday setups. The pair is bouncing off of a rising support (bottom blue line), though we are still bearish under 1.37 and expect more losses if we see a support break.
As far as the budget meeting goes, we may seem some volatile moments in the pairs as news comes out, but historically speaking our SwingPRO system performs the same or even slightly better during news events so we will continue to trust that the important fundamental drivers are already baked into the technical charts.
Today's Important News Events:
|EUR EU Leaders Hold Summit Regarding 2014-2020 Budget|
|00:30||AUD Employment Change (JAN)||6.0K||-3.8K|
|00:30||AUD Unemployment Rate (JAN)||5.5%||5.4%|
|09:45||GBP BoE Governor-Designate Carney Questioned by Lawmakers|
|12:00||GBP BOE Asset Purchase Target (FEB)||375B||375B|
|12:00||GBP Bank of England Rate Decision (FEB 7)||0.5%||0.50%|
|12:45||EUR European Central Bank Rate Decision (FEB 7)||0.75%||0.75%|
|13:30||EUR ECB's Draghi Holds Press Conference After Rate Decision|
|*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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