EUR/USD Daily Analysis: EU continued to fall yesterday, in line with our bearish trend analysis, dropping below 1.36 for the first time since February. Short-term trend analysis remains bearish with hourly action caught in a bearish channel and daily charts showing a break of rising support two weeks ago that should bring about a downside challenge of 1.3500 in the coming weeks.
4h Chart
Long-term Trend Analysis Chart
Our Preferred Trades*: In line with the bearish trend we will look to get short on a rally between 1.3620-1.3650 with bearish candlestick confirmation, targeting 1.3570 and 1.3520. Only above 1.3670 relieves the short-term bearish pressure but long-term bearish pressure remains under 1.37.
Yesterday’s EUR/USD SwingPRO Signal Result: No setups triggered yesterday
Today’s SwingPRO Signal: 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.
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