International Business Times
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By PipHut | March 30, 2012 10:12 AM IST

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Recap: Our short was triggered yesterday on the support break (PRO emails sent out at 1.3291) and quickly dropped to almost 40 pips into the profit. The pair then slowly turned against us and tripped our tightened SL at break even.

Today's Important News Events:

Date Time (UTC) Event Forecast Previous
Fri
Mar 30
09:00 EUR Euro-Zone Consumer Price Index Estimate (YoY) (MAR) 2.5% 2.7%
   
  12:30 USD Personal Consumption Expenditure Core (YoY) (FEB) 1.9% 1.9%
   
  13:55 USD U. of Michigan Confidence (MAR F) 74.8 74.3
   
  *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.
 

Technically the daily charts present as medium term bullish since the early March bounce off of 1.30. However on the daily charts this ultimately appears to be a bearish consolidation pattern and we believe another run at 1.30 is in the cards for ApriPr

Trading Idea:  Even though it is Friday (we normally do not trade Fridays), if price stays below 1.3375 and breaks the rising support we will get short with targets at 20/20/20/20 for 80 pips profit, moving our SL as we go.

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