Forex Signals – EURUSD Wedge

Recap: No resistance breaks yesterday means no trade was taken. After yesterday’s signal the pair spent the next 20 hours slowly consolidating upward. This upward consolidation has produced a nice support line on the 4h charts and we will look to take advantage by getting short on a support break today.

Today’s Important News Events:

DateTime (UTC)EventForecastPreviousEUR German Unemployment Change (SEP)GBP Gross Domestic Product (QoQ) (2Q F)GBP Gross Domestic Product (YoY) (2Q F)USD Gross Domestic Product (Annualized) (2Q T)USD Gross Domestic Product Price Index (2Q T)USD Durable Goods Orders (AUG)*To see a more extensive list of news events (not just those we consider important), visit our forex calendar.

Trading Idea: We will look to get short on a support break today with targets at 80 pips profit. We will also get long on a resistance break with the same targets, but we will be cautious close on a false break and move our SL early and often.

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