EUR/USD Daily Analysis: 1.2700 was broken yesterday, provoking a short-squeeze that quickly pushed price up to 1.2767 before strong selling has once again pushed price well under 1.2700. We see more choppiness ahead – especially after the break above 1.2700 was sold down so sharply, and will stay flat as the 4h trend is mixed, daily trend remains long-term bearish but the consolidation above the 10-day moving average indicates short-term bearish momentum has faded and we could see a rally toward 1.29/1.30 Fibonacci retracement levels.
Our Preferred Trades*: We are flat on mixed outlook. We are short-term bearish under 1.2765.
Yesterday’s EURUSD SwingPRO Signal Result: No trades taken yesterday.
Today’s SwingPRO Signal: Flat on mixed techs.
*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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