Our free forex signals service trade today is a buy order on the EUR/GBP. The pair is looking for an upside after a bullish breakout.
The EUR/GBP pair rallies after ending its temporary retreat. The European cross at 0.8453 at the time of writing. It seems determined to extend its upward movement. Technically, the currency pair signaled strong upward movement after taking out strong near-term resistance levels. The UK reported positive figures earlier, but the British Pound resumes a sell-off versus the Euro.
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The Unemployment Rate dropped unexpectedly lower from 4.1% to 3.9% below 4.0% expected, Claimant Count Change was reported at -48.1K versus 20.3K estimates, while the Average Earnings Index rose by 4.8% exceeding the 4.6% forecasts.
ZEW Economic Sentiment 10.3 expected
Later, the Euro-zone ZEW Economic Sentiment could be reported at 10.3 points below 48.6 in the previous reporting period. In addition, the German ZEW Economic Sentiment is expected at 5.2 points in March versus 54.3 in February, while the Euro-zone Industrial Production may register a 0.0% growth.
As you can see on the 4-hour chart, the EUR/GBP pair registered valid breakouts above the immediate downtrend lines, and now it tries to stabilize above the ascending pitchfork’s median line (ML) and above 0.8435 former high. A new higher high could activate potential further growth.
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Free forex signals – Buy EUR/GBP at 0.8458
Free forex signals entry price and take-profit
Instrument: EUR/GBP
Order Type: BUY STOP
Entry price: 0.8458
Stop Loss: 0.8344
TP1: 0.8630
My Risk: 1%
Risk / Reward Ratio: 1:1.5
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