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Our free forex signals service trade today with a buy order on the EUR/USD pair.

The EUR/USD pair is trading in the red at the time of writing but this could be only a temporary drop. The price could only test and retest the immediate support levels (resistance turned into support) before resuming its growth.

Technically, the Dollar Index remains under strong selling pressure despite reaching the 61.8% retracement level.

Fundamentally, the USD is still weak after the US PPI and the Unemployment Claims reported worse than expected data yesterday. 

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US Retail Sales In Focus

Some poor US data reported today could punish the USD. The Retail Sales indicator is expected to report a 0.0% growth in December, while the Core Retail Sales could register only a 0.2% growth versus 0.3% in the previous reporting period.

Also, the Industrial Production and the Prelim UoM Consumer Sentiment could bring high action. 

Technically, staying above the ascending pitchfork’s median line (ML) and making a new higher high could confirm potential further growth.

The R2 (1.1450) stands as a static support level, the EUR/USD pair could reach and retest it before trying to extend its growth. In my opinion, stabilizing below the median line (ML) could signal that the upside movement could be over. 

Free forex signals – BUY EUR/USD at 1.1487

free forex signals - eurusd

Free forex signals entry price and takes profit

Instrument: EUR/USD

Order Type: BUY STOP

Entry price: 1.1487

Stop Loss: 1.1444

TP1: 1.1552

My Risk: 1%

Risk / Reward Ratio: 1:1.5

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