EUR/USD Daily Analysis: EU remains in a 6-week downtrend as long as we stay below 1.3650 on the short-term charts. Above 1.3650 there is a lot of room for a bullish correction (1.40), but with the a market expectation that QE for the ECB is right around the corner we expect the pair to remain well offered and for the short-term downtrend to continue. 1.3470 remains our downside target for the week.
4h Chart
Long-term Trend Analysis Chart
Our Preferred Trades*: We will look to get short on rally to 1.36-1.3640 with bearish confirmation, targeting a drop back to 1.3540/1.35/1.3470 before week’s end. Threat to the trade is the bullish RSI divergence on the 4h charts which could cause the short-term rise to our sell zone.
Yesterday’s EUR/USD SwingPRO Signal Result: No trades triggered Friday.
Today’s SwingPRO Signal: Short on support breaks between 1.36-3640 with a TP of 100 and a SL of 50.
*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:
