EUR/USD Bears Fizzling Out
PipHut | Mar 12, 2014 04:23AM ET
EUR/USD Daily Analysis: EU continued to slowly fall yesterday but never jumped up enough for us to get an entry – not that we wanted one at this pace. That lack of bearish momentum has confirm a lack of bearish conviction despite the weekly resistance and we will once again look to get long on a dip.
Daily Chart
Long-term Trend Analysis Chart
Our Preferred Trades*: We will look to get long under 1.3820 (February’s high) with bullish candlestick confirmation, targeting another challenge of 1.3915.
Yesterday’s EUR/USD SwingPRO Signal Result: No trades triggered yesterday to report on.
Today’s SwingPRO Signal: Long on resistance breaks below 1.3820 with a TP of 80 and a SL of 50.
*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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