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.
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:
|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|