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Free Forex Signals - Bullish Above the Friday Low

Signal Posted: 2015-08-31 15:33:06

EURUSD Daily Analysis: Friday's correction was deeper than expected, easily piercing the 61.8% retracement of the nearly 700 pip rally from Aug 19-24. Despite the massive correction we remain bullish (especially short-term) as long as Friday's low of 1.1155 holds, with a bullish target at 1.1360. If 1.1155 does break then 1.1060 and 1.10 become the bearish targets.

4h Chart

Our Preferred Trades*: We have set a buy limit at 1.1175, SL @ 1.1140 (35 pips, below Friday's low), TP @ 1.1300 (125 pips).

Long-term Trend Analysis Chart

Yesterday's EURUSD SwingPRO Signal Result: No trades triggered from Friday.

Today's SwingPRO Signal: See preferred trade 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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