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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

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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