EUR/USD Daily Analysis: The euro is once again (very) slowly pushing higher, this time into yesterday’s sell zone above 3810. We would be more thrilled if there was a bearish strength divergence on the 4h charts, but the weekly divergence will have to do, along with the fact that the 4h waves have been a series of lower lows and lower highs ever since the intraweek support break on March 19th. Only a move above 3875 would have us looking upward again given the current technicals.
Our Preferred Trades*: Same as yesterday: we are looking to get short on a rally between 3810-3850 resistance zone, with bearish confirmation (support break, bearish candlestick, etc.), targeting another drop to 3720-3700 support.
Yesterday’s EUR/USD SwingPRO Signal Result: No setups triggered yesterday.
Today’s SwingPRO Signal: Short on a support break between 3810-3850 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.