EUR/USD Daily Analysis: The Euro continues to bounce along it’s monthly rising support, marching slowly upward toward its long term falling resistance (dating back to 2008). For now the markets seem to continue to let price sit between the two converging trends and we may see price stall for the remainder of the week as the US Banks will be closed on Thursday and Friday for the Thanksgiving holiday.
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Our Preferred Trades*: The primary trend is bullish right now so our preference is to continue buying into dips, with 1.3250 being the closest support that we would consider buying at with good candlestick confirmation. Beneath 1.3250 and we will stay flat rather than trading against the trend.
Yesterday’s EUR/USD SwingPRO Signal Result: No EU SwingPRO trades taken yesterday to report on.
Today’s SwingPRO Signal: The only solid S/R line is a rising support and, as we mentioned above, we won’t be trading against the trend so we will stay flat on this pair (at least in SwingPRO).
*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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Forex Signals: Euro Stalling Before US Holiday
Published 11/28/2013, 04:07 AM
Updated 07/09/2023, 06:31 AM
Forex Signals: Euro Stalling Before US Holiday
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