Our free forex signals service today is a sell trade on the EUR/USD pair. The EUR/USD pair drops at the time of writing after retesting the broken uptrend line.
The USD tries to appreciate as the Dollar Index bounced back. In the short term, a minor rebound was somehow expected after its strong sell-off and ahead of the FOMC meeting.
Yesterday, the CB Consumer Confidence was reported at 113.8 versus 111.4 expected, dropping from 115.2 in the previous reporting period.
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Federal Funds Rate 0.25%
As you already know, the Federal Reserve is expected to keep its monetary policy unchanged in the January meeting. So, the Federal Funds Rate could remain at 0.25%. Still, the FOMC Press Conference and the FOMC Statement could bring high volatility and strong moves.
From the technical point of view, the EUR/USD pair rebounded after finding support at 1.1272 level. As long as it stays under the uptrend line, the bias remains bearish. A new lower low, a valid breakdown below the 1.1272 downside obstacle could activate more declines. The currency pair could develop a larger downside movement only if it makes a valid breakdown below the lower median line (lml).
Free forex signals – SELL EUR/USD at 1.1255
Free forex signals entry price and takes profit
Instrument: EUR/USD
Order Type: SELL STOP
Entry price: 1.1255
Stop Loss: 1.1387
TP1: 1.1057
My Risk: 1%
Risk / Reward Ratio: 1:1.5
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