Free Forex Signals – 1.1080 Big Test for Bears
EURUSD Daily Analysis: Short analysis today as none of the charts have particularly compelling trade setups so there's no point in going on just to hear ourselves type (in our opinion). EURUSD is testing monthly lows under 1.1130, though the true test of bears will come at 1.1080 - the September low and where we saw a 400 pip bounce previously. Short-term trend is very bearish, medium and long-term trend is bullish (and that conflict is the reason we are on the sidelines today, waiting for a higher probability setup with an enticing reward/risk ratio).
Our Preferred Trades*: Aggressive traders could look to buy dips to 1.1080, or sell rallies above 1.12. We are flat today, as mentioned above.
Yesterday's EURUSD SwingPRO Signal Result: No trades taken 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.
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