EUR/USD: Bullish Rebound, Bearish Trend
PipHut | Jun 17, 2014 03:02AM ET
EUR/USD Daily Analysis: EU remains in a 6-week downtrend as long as we stay below 1.3650 on the short-term charts. Above 1.3650 there is a lot of room for a bullish correction (1.40), but with the a market expectation that QE for the ECB is right around the corner we expect the pair to remain well offered and for the short-term downtrend to continue. 1.3470 remains our downside target for the week.
4h Chart
Long-term Trend Analysis Chart
Our Preferred Trades*: We will look to get short on rally to 1.36-1.3640 with bearish confirmation, targeting a drop back to 1.3540/1.35/1.3470 before week’s end. Threat to the trade is the bullish RSI divergence on the 4h charts which could cause the short-term rise to our sell zone.
Yesterday’s EUR/USD SwingPRO Signal Result: No trades triggered Friday.
Today’s SwingPRO Signal: Short on support breaks between 1.36-3640 with a TP of 100 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.
Today’s Important News Events:
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.