Euro Treading Water
PipHut | Apr 17, 2014 06:04AM ET
EUR/USD Daily Analysis: Euro market players seem hesitant to commit to any one direction as we once again are right back where we started yesterday – 1.3820, with volatility down to month lows on the pair. Euro zone inflation came in slightly lower than expected and US housing starts came in worse than expected, which should be enough fuel to keep the daily uptrend alive – unless Draghi/ECB announces more currency-weakening forward guidance.
4h Chart
Long-term Trend Analysis Chart
Our Preferred Trades*: Our setup from yesterday still stands: we will trade with the longer-term trend, still looking to get long on a bullish signal (candlestick or resistance break) under 1.3780 (but above 1.3730) targeting a rise to 1.3850 and 1.39.
Yesterday’s EUR/USD SwingPRO Signal Result: Not triggered.
Today’s SwingPRO Signal: Long on a resistance break under 3780 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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