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Our free forex signals service trade today is a buy order on the EUR/USD. We will analyze the EUR/USD price and key reasons to buy it.

The EUR/USD pair tested around 1.1386 on Friday, registering a new high. Now, it’s trading at the 1.1336 level as the Dollar Index has managed to rebound. It remains to see what will really happen as the currency pair violated strong upside obstacles signaling potential further growth. The DXY remains under deep selling pressure despite today’s rebound. The pair climbed higher even if the United States Unemployment Claims and the Chicago PMI reported better than expected data on Thursday.

Later, the Euro-zone Final Manufacturing PMI and the German Final Manufacturing PMI may bring more action even if the economic indicators remain steady.

US Final Manufacturing PMI – 57.7 Expected

The EUR/USD pair maintains a bullish bias in the short term. However, some poor US data could weaken the greenback. For example, the US Final Manufacturing PMI is expected to drop from 57.8 to 57.7 points, signaling a slowdown in expansion, while the Construction Spending may register a 0.8% growth in November.

Technically, the currency pair escaped from the major range between 1.1374 and 1.1186, but it failed to stabilize above the pattern’s upside obstacle. Now, it tries to test and retest the triangle’s upside line and the 1.1332 static support. Staying above these levels and coming back above the weekly pivot point (1.1348) could really announce a potential upside continuation. A bullish reversal could be activated by a new higher high.

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Free forex signals – BUY EUR/USD at 1.1396

free forex signals

Free forex signals entry price and takes profit

Instrument: EUR/USD

Order Type: BUY STOP

Entry price: 1.1396

Stop Loss: 1.1295

TP1: 1.1601

My Risk: 1%

Risk / Reward Ratio: 1:2

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