Forex Signals – EURUSD Bearish Hints
Daily Outlook: Our aggressive short from yesterday's signal got stopped out, but the S/R lines we posted in the comments yesterday (shown with an orange line on chart below) provided us another opportunity to get short on the downside break of the rising trend support which got about +60 pips into the profit.
Trading Idea: Today we are tracking a new rising trend support (blue line above) and our primary trade will be short on a sustained break below this support (currently at 1.3600) with targets at 3580, 3555, 3525 and 3500 for 100 pips potential. If the sustained break closes too far below 3600 we will wait for a pullback to enter.
There are opportunities to get long on bounces off the blue rising support above, but unfortunately the primary setup is the only real setup the charts are giving us for the moment - GU, AU and UChf are all offering much better setups (for PRO users).
For advanced traders we will be watching for a new falling trend resistance to form when the primary trade occurs (or if the pair continues to rally then whenever the inevitable correction occurs) for an aggressive long breakout on a topside break.
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