Free Forex Signals – EURUSD Remains High Risk, Low Reward
EURUSD Daily Analysis: EURUSD has been in a wide, but shrinking, consolidation pattern since the late August rally to 1.17, with 1.11 representing strong and pivotal support beneath the current channel. 1.11 should provide short-term support to bulls but caution is advised as a break below could open up a steep correct to 1.10 and 1.0850 in short order.
Our Preferred Trades*: For our part the short, medium and long-term trends are too at odds with each other to provide a clear reward/risk setup in our favor so we will stay flat today. 1.1130 should provide short term support to aggressive bulls and 1.13 is our key topside pivot.
Yesterday's EURUSD SwingPRO Signal Result: No EU trades triggered Friday or 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.
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