Free Forex Signals – Medium Term Trend Now Bearish
EURUSD Daily Analysis: Plenty of news on the docket today should bring about the usual round of volatility for USD, and it will be interesting to see how bears hold on to there large drop over the past few days. That large drop (hard bounce off of 1.450 resistance) has turned the medium term trend bearish under 1.1350, though a short-term bounce off of 1.1100 cannot be ruled out as we go through the news day and and bears take profit.
Our Preferred Trades*: We remain overall bearish below 1.1350 but that is too far away to set a sell limit so we will most likely stay on EU for the day. Aggressive traders could look to sell closer to 1.13 or take some pips off of a 1.1130 dip.
Yesterday's EURUSD SwingPRO Signal Result: No trades taken yesterday.
Today's SwingPRO Signal: See preferred setups above.
*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: