Free Forex Signals – Bearish Long-Term; Mixed Short

EURUSD Daily Analysis: And I’m back. Sorry about the lack of analysis the past two days (though I did get the EU analysis out Monday and sent trade alerts for PRO members still) – I’ve been pretty ill since Sunday night but I’m now on the mend. Enough about me, on to the charts…

EU isn’t quite at a crossroads yet but it will be soon, with a new lower low made on the 4h charts begging for a bearish correction, a hawkish US interest rate outlook begging for a stronger USD, and a bearish strength divergence on the weekly charts begging for a drop in the Euro. All together it would seem pretty bearish for EU but for two things: a rising strength support on the 4h charts and the all important trend, which is still firmly bullish on longer timeframe charts.

4h Chart

Long-term Trend Analysis Chart

Our Preferred Trades*: With that mixed trend we are going to stay flat on EU today and await clearer direction. To confirm the bearish turn we need a break below 1.3730. To confirm the bullish resumption we need a sustained break above 1.39.

Yesterday’s EURUSD SwingPRO Signal Result: No EU setups triggered yesterday.

Today’s SwingPRO Signal: Flat.

*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:

Date Time (UTC) Event Actual Forecast Previous
Wed
Mar 26
07:00 CHF UBS Consumption Indicator (FEB) 1.57 1.49
07:00 EUR German GfK Consumer Confidence Survey (APR) 8.5 8.5 8.5
11:00 USD MBA Mortgage Applications (MAR 21) -3.5% 0.2%
12:30 USD Durable Goods Orders (FEB) 2.2% 0.8% -1.3%
12:30 USD Durables Ex Transportation (FEB) 0.2% 0.3% 0.9%
13:45 USD Markit US Composite PMI (MAR P) 55.8 54.1
13:45 USD Markit US Services PMI (MAR P) 55.5 54.0 53.3
20:00 USD Fed Releases Comprehensive Capital Analysis and Review Results
23:50 JPY Japan Buying Foreign Bonds (Yen) (MAR 21) ¥143.1B
23:50 JPY Japan Buying Foreign Stocks (Yen) (MAR 21) -¥137.1B

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  1. Johnny
    March 26, 2014 at 22:21 Reply

    @D – One of the reasons why Im keeping the Longs on E/U and A/U.
    The Bullish Hammer on the Daily E/U and the Bullish Engulfing on the Weekly A/U, on my charts that is!
    GL&TC

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