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Our free forex signals service trade today is a sell order on the EUR/USD. The pair is looking for a downside after rejecting from the resistance.

The EUR/USD pair drops at the time of writing as the Dollar Index has managed to resume its gain after ending its temporary retreat. The currency pair maintains a bearish bias. Temporary rebounds could help the sellers to catch new bearish movements. The Dollar Index is bullish, so an upside continuation is favorable.

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As you already know, the US Revised UoM Consumer Sentiment and the Pending Home Sales reported worse than expected data on Friday. Also, the German IFO Business Climate was reported at 90.8 below 94.2 forecasts.

US Goods Trade Balance -106.4B expected

Later, the Goods Trade Balance could be reported at -106.4B versus -107.6B in the previous reporting period. In addition, the Prelim Wholesale Inventories could register a 1.3% growth. Better than expected US data could help the USD to appreciate against its rivals.

From the technical point of view, the EUR/USD pair could activate a larger downside movement if it makes a new lower low. As you can see, the price registered a breakdown below the 1.0960 static support. Now, it’s traded above this level again. However, the bias remains bearish after it fails to reach and retest the 1.1045 and the uptrend line.

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Free forex signals – Sell EUR/USD at 1.0931

eur/usd free forex signals

Free forex signals entry price and take-profit

Instrument: EUR/USD

Order Type: SELL STOP

Entry price: 1.0931

Stop Loss: 1.1006

TP1: 1.0817

My Risk: 1%

Risk / Reward Ratio: 1:1.5

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