Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Forex Signals - EUR/USD: Long Term Trend Convergence

ByPipHut
Published 11/26/2013, 02:57 AM
Updated 07/09/2023, 06:31 AM

EUR/USD Daily Analysis: The Euro continues to bounce along it’s monthly rising support (trending near support on long-term trend chart below) as it nears it’s long-term falling resistance (dating back to 2008). The convergence of the two trends has left the last two months as a draw, with a nearly 50% bull/bear strength as the uptrend since 2012 stalls.
<span class=EUR/USD" border="0" height="480" width="700">
<span class=EUR/USD Weekly" border="0" height="480" width="700">
Our Preferred Trades*: In the short-term, after failing to break 1.35 and establishing a lower high on the 4h charts we are looking to get short on a break below the key swing level of 1.3490, targeting the 1.3430-1.3400 support range (well within the long-term trend convergence).

Yesterday’s EUR/USD SwingPRO Signal Result: No swing trades taken last Friday to report on.

Today’s SwingPRO Signal: Short on a support break 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.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.