Free Forex Signals – Risk of Volatility Ahead

EURUSD Daily Analysis: Its been a fundamentally eventful start to the year for the global economy’s central banks – the SNB removing its peg, the ECB announcing a 1.1 trillion euro stimulus package, and now Yellen privately hinting to US lawmakers that a rise in interest rates might not come as soon as the markets expect. The technicals, as usual, reflect this recent uncertainty in the form of a triangle consolidation pattern (pennant) over the course of the week.
We remain technically bearish on the pair under its 10-day moving average (it has been under this level since mid-December) at 1.1350, though we really need a break above 1.1450 (above the 61.8% retracement level) to confirm the medium-term downtrend has ended.

4h Chart

Our Preferred Trades*: While we prefer shorts under 1.1450 at the moment there is too much risk in the trend for a reversal (especially after Yellen’s comments above and with US GDP coming out tomorrow), making a profitable reward/risk ratio difficult to achieve. We will stay flat before the weekend in this pair.

Long-term Trend Analysis Chart

Yesterday’s EURUSD SwingPRO Signal Result: No EURUSD trades to report on.
Today’s SwingPRO Signal: Flat before the weekend on mixed technicals.
*CandlePRO: CandlePRO can be used in conjunction with our daily analysis and “our preferred trades.” For example, if we prefer “going short” or “selling a rally” then we would look for bearish candlestick signals after a rally or near resistance levels. Alternative if we prefer “going long” or “buying a dip” then we would look for bullish candlestick signals on price drops or near support levels.
Today’s Important News Events:

Date	Time (UTC)	Event	Actual	Forecast	Previous
Fri Jan 30	00:05	GBP GfK Consumer Confidence Survey (JAN)	1	-2	-4
	05:00	JPY Housing Starts (YoY) (DEC)	-14.7%	-14.8%	-14.3%
	05:00	JPY Annualized Housing Starts (DEC)	0.883M	0.900M	0.888M
	07:00	EUR German Retail Sales (YoY) (DEC)		3.6%	-0.8%
	08:00	CHF KOF Leading Indicator (JAN)		94.7	98.7
	09:30	GBP Net Consumer Credit (DEC)		1.2B	1.3B
	09:30	GBP Net Lending Sec. on Dwellings (DEC)		1.9B	2.1B
	09:30	GBP Mortgage Approvals (DEC)		59.0K	59.0K
	10:00	EUR Euro-Zone Unemployment Rate (DEC)		11.5%	11.5%
	10:00	EUR Euro-Zone Consumer Price Index Estimate (YoY) (JAN)		-0.5%	-0.2%
	10:00	EUR Euro-Zone Consumer Price Index – Core (YoY) (JAN A)		0.7%	0.7%
	13:30	USD Gross Domestic Product (Annualized) (4Q A)		3.0%	5.0%
	13:30	USD Personal Consumption (4Q A)		4.0%	3.2%
	13:30	USD Gross Domestic Product Price Index (4Q A)		0.9%	1.4%
	13:30	USD Core Personal Consumption Expenditure (QoQ) (4Q A)		1.1%	1.4%
	15:00	USD U. of Michigan Confidence (JAN F)		98.2	98.2

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