EUR/USD: One More Bearish Run
PipHut | Jul 08, 2014 02:50AM ET
EUR/USD Daily Analysis: The short-term picture remains bearish for the EU on strong USD fundamentals – technically reflected in double support break last week (thick rising red lines on 4h charts) – but is overall consolidative since 3570 failed to break. A break above 1.37 is needed to re-ignite a bullish technical picture.
4h Chart
Our Preferred Trades*: We are willing to try another short if a rally to 3630-3680 presents itself with bearish candlestick confirmation, targeting a drop to 3470 over the course of this week. Alerts will be sent out if this setups becomes available or triggered.
Long-term Trend Analysis Chart
Yesterday’s EURUSD SwingPRO Signal Result: No trades taken Friday.
Today’s SwingPRO Signal: See preferred trade 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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