EUR/USD Daily Analysis: Price popped below 1.36 yesterday, kicked up a bullish 4h hammer 1.3599 (at 00:00 UTC) and has accelerated upward for 40-50 pips. We missed the entry but hopefully you did not!
Price has been moving sideways for the past week and a half, beneath intrayear falling resistance (blue line on long term chart below) and well-above intrayear rising support (red line). 1.3550 is still the key support that mush be broken to open up a re-challenge of lower intrayear rising support, currently down around 1.3250.
EUR/USD: H4" title="EUR/USD: H4" height="480" width="700">
EUR/USD: Weekly" title="EUR/USD: Weekly" height="480" width="700">
Our Preferred Trades*: EU charts lack a strong conviction/trend at the moment, and with no immediate S/R lines, divergence patterns we will stay flat for the day. The pair should find heavy selling pressure in the 3700-3730 resistance zone and heavy buying pressure in the 3550-3580 support zone, potentially creating a range situation.
Yesterday’s EUR/USD SwingPRO Signal Result: No EU SwingPRO trades taken yesterday.
Today’s SwingPRO Signal: We are standing aside on EU today as there are no high probability trade setups that we see. If you see the charts differently, please share your comments on the signal page with others!
*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: