Our free forex signals service trade today is a sell order on the EUR/USD pair. The pair stands below a major supply zone.
The EUR/USD pair is trading in the red at 1.1346 at the time of writing. The price moves sideways in the short run. The price drops as the Dollar Index rallies after finding support on 95.75. As you already know, the greenback appreciates against the rivals when it grows.
On Friday, the Euro received a hit when the Eurozone Current Account and Consumer Confidence came worse than expected. On the other hand, the US Existing Home Sales reported better than expected data.
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Today, the Euro-zone Flash Services PMI was reported at 55.8 points versus 52.3 expected, while the Flash Manufacturing PMI came in at 58.4 points below 58.9 expected.
German Flash Services PMI 56.6
The Euro drops versus the greenback after mixed Euro-zone data. The German Flash Services PMI was reported at 56.6 points versus 53.2 expected, signaling expansion, while the German Flash Manufacturing PMI dropped from 59.8 to 58.5, announcing a slowdown in expansion.
From the technical point of view, the EUR/USD pair could activate a strong downside movement if it makes a valid breakdown below the uptrend line.
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Free forex signals – Sell EUR/USD at 1.1299
Free forex signals entry price and takes profit
Instrument: EUR/USD
Order Type: SELL STOP
Entry price: 1.1299
Stop Loss: 1.1399
TP1: 1.1119
My Risk: 1%
Risk / Reward Ratio: 1:1.8
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