Our free forex signals service today looks at the EUR/USD and we have the entry, stop and take profits levels for you.
The European currency corrected from local lows in the EUR/USD pair, the dynamics of the Dollar were influenced by economic reports from the United States.
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Durable goods orders in the US rose 0.8% in June against 3.2% a month earlier (revised from 2.3%). Analysts had expected an increase of 2.1%. Basic orders for durable goods (excluding transport) increased by 0.3%, the May indicator was revised upward from 0.3% to 0.5%. Experts forecast an increase of 0.8% in June.
Today, traders are looking for the results of the Federal Reserve meeting. In all likelihood, the committee will leave the current monetary policy unchanged, which may strengthen the European currency since this scenario has already been taken into account by the market.
In the first half of the day, important fundamental data are not released, so it is necessary to pay attention only to the report on the leading consumer climate index in Germany. Considering that the Euro buyers yesterday did not manage to get above the upper border of the side channel 1.1830, their whole focus today will be shifted to this level. Testing this area from top to bottom will form a signal to open long positions to continue the upward correction based on the rise to 1.1874. In the scenario of a decline in EUR/USD during the European session and weak data for Germany, better not to rush into buying.
EUR/USD free forex signals
Instrument: EUR/USD
Order: BUY STOP
Entry price: 1.1845
Stop Loss: 1.1768
TP1: 1.1940
Recommended Risk: 1%
Risk / Reward Ratio: 1:1.2
Signal validity period: Good until cancelled
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Saqib Iqbal
