EUR/USD: Lower Lows, Another Downside Challenge?
PipHut | Apr 01, 2014 05:22AM ET
EUR/USD Daily Analysis: EUR/USD has been in a series of lower lows and lower highs since is 1.3966 peak on March 13th. A bullish strength divergence has created an updraft above 3700 support, but we expect to find selling pressure above 1.3810 for another downside challenge.
4h Chart
Long-term Trend Analysis Chart
Our Preferred Trades*: We are looking to get short on a rally between 3810-3850 resistance zone, with bearish confirmation (support break, bearish candlestick, etc.), targeting another drop to 3720-3700 support.
Yesterday’s EUR/USD SwingPRO Signal Result: No setups triggered Friday.
Today’s SwingPRO Signal: Short on a support break between 3810-3850 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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