EUR/USD Daily Analysis: Last week closed as a bullish doji as the pair moved sideways between 1.2990-1.285 (where it remains now). Bulls have a slight edge in the short-term though we expect 1.30 to provide heavy selling opportunities for scalpers and day traders alike, at least until Wednesday when we have a heavy USD news day. A sustained break above 1.30 would change the short-term charts to bullish and medium-term to mixed.
Our Preferred Trades*: We are looking to sell around 1.30 with bearish candlestick confirmation, targeting 1.29. Alerts will be sent out if that setup develops. There is also scalping opportunity near 1.30.
Yesterday’s EUR/USD SwingPRO Signal Result: No trades taken on Friday.
Today’s SwingPRO Signal: Short on support breaks. See preferred trade above.
*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.