EUR/USD Continues To Tighten Above 1.12
PipHut | Oct 07, 2015 04:26AM ET
EUR/USD Daily Analysis: EUR/USD has been in a tightening consolidation triangle since late August's high above 1.17, with 1.11 providing long-term support. In the intraday picture we are short-term bullish above 1.12, which we expect to provide support over the next few days. Our weekly target remains at 1.1350.
Our Preferred Trades*: We are looking to get long on a dip toward that 1.12 support, but will wait for a confirmation signal (e.g. bullish candlestick).
Yesterday's EURUSD SwingPRO Signal Result: No trades to report on.
Today's SwingPRO Signal: See preferred setups 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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