EUR/USD Daily Analysis: We did see a bounce off of 1.3725 as forecast, but we feel ok about removing our buy limit given the volatility caused by the Ukraine situation. If the conflict escalates we could see a flight to USD safety that coincides nicely with long-term falling resistance, currently around 1.38.
Technically the pair is in a short-term and long-term uptrend, but that weekly resistance we mentioned above (shown on weekly chart below), coupled with the fundamental risk and a bearish 4h RSI divergence, is enough for us to stand aside on the long opportunity today.
EUR/USD Weekly" title="EUR/USD Weekly" align="bottom" border="0" height="242" width="474">Long-term Trend Analysis Chart
Our Preferred Trades*: With that bearish RSI divergence there is an opportunity to sell near weekly resistance on another rally to 1.3830, and we will look to do that if the divergence still exists and there is bearish candlestick confirmation, targeting a drop back down to 1.3725.
Yesterday’s EURUSD SwingPRO Signal Result: No trades triggered yesterday to report on.
Today’s SwingPRO Signal: No solid S/R lines plus the mixed technicals will leave us flat on the swing strategy today.
*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:
