Forex Signals – EURUSD Up and Down

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February 14, 2013 1:38 AM EST

PipHut.com

Recap: Our short was triggered on the 1.3368 support break yesterday. Unfortunately price swing back upward and hit our SL for a 50 pip loss. Needless to say a false break alert was sent out shortly thereafter.

Price has been consolidating between a falling resistance and a rising support, with a very recent resistance break at 1.3464 occurring a couple hours ago.

We are bullish on the pair short-term but with a solid rising intraday support we will look to get short on a support break with a TP of 80 and a SL of 50.

Today's Important News Events:

Date Time (UTC) Event Forecast Previous
Wed
Feb 13
10:30 GBP Bank of England Quarterly Inflation Report Press Conference


13:30 USD Advance Retail Sales (JAN) 0.1% 0.5%

23:50 JPY Gross Domestic Product (QoQ) (4Q P) 0.1% -0.9%

23:50 JPY Gross Domestic Product Annualized (4Q P) 0.4% -3.5%

23:50 JPY Nominal Gross Domestic Product (QoQ) (4Q P) 0.0% -0.9%

*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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