Free Forex Signals – Spike and Wait, Spike and Wait
EURUSD Daily Analysis: Price has consolidated upward in accordance with forecasts since last week's major sell off, though did not dip enough to catch Tuesday's buy limit at 1.1175. The trend so far this week has been slightly upward, though we would not be surprised to see another sharp drop in the coming days if expectations continue to increase for the Fed raising rates.
We don't see a solid enough setup for us to enter here. The obvious target for bulls is 1.1365 - the 38.2% retracement of last week's fall. For bears we need another drop below 1.12 to confirm the trend, but under that we expect 1.10 to be hit.
Our Preferred Trades*: Flat on lack of convincing risk/reward setups.
Yesterday's EURUSD SwingPRO Signal Result: No trade triggered yesterday.
Today's SwingPRO Signal: See preferred trades 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.
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