EUR/USD Daily Analysis: Currency pairs consolidated sideways for most of the day yesterday, the Euro included, though it did find support above our 1.3780 “buy zone.” We remain long-term bullish on the pair (daily and weekly charts show a clear uptrend) but the 4h charts are beginning to turn over. A break below 1.3670 is ultimately needed to turn bearish and call a top at 1.39.
Our Preferred Trades*: Until that happens we will trade with the longer-term trend, still looking to get long on a bullish signal (candlestick or resistance break) under 1.3780 (but above 1.3730) targeting a rise to 1.3850 and 1.39.
Yesterday’s EUR/USD SwingPRO Signal Result: No setups triggered yesterday.
Today’s SwingPRO Signal: Long on a resistance break under 3780 with a TP of 80 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.
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