Free Forex Signals – Bears Strike Back
EURUSD Daily Analysis: Price rallied nicely off of our key support from Monday (1.1290), dropping just a few pips below the level before it rallied back up to the high 1.1320s. We closed out via trade alert for 12 pips profit after it appeared bulls had lost momentum - and good thing as yesterday's drop to 1.2860 (which our SL would have survived, if we had kept the trade open).
Trend analysis is mixed today. We remain mildly bullish above 1.1260 but barely so and certainly not with enough conviction to risk equity.
Our Preferred Trades*: Flat for today until a higher probability setup presents itself (GBPUSD setup looks promising). Key support at 1.1260, key resistance at 1.1350 for any aggressive day traders.
Yesterday's EURUSD SwingPRO Signal Result: Closed our long from Monday for 12 pips profit.
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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