EUR/USD Daily Analysis: EUR/USD appears to be bottoming out above 1.05 and has just formed a potential bullish flag pattern on the 4h charts, with a break above 1.0730 needed to confirm the pattern. Downside momentum has also stalled with worse than expected US GDP beginning to be forecasted.
Our Preferred Trades*: We are setting a buy limit just below the 61.8% retracement level, and just on top of the above the sideways consolidation levels we saw earlier this week. Buy limit set at 1.0590, SL @ 1.0555, TP @ 1.0690.
Yesterday's EUR/USD SwingPRO Signal Result: No trades to report on.
Today's SwingPRO Signal: Long on resistance breaks. See full trade setup 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.