I do list out my analysis for today and Monday below though, for you traders still looking to trade the thin markets.

Recap: No trade entered on the EUR/USD pair yesterday (though I did open up a single short lot at 1.3585 in the past few hours on a pure risk/reward trade) as there was no good shorting signal and it didn't drop to a level where I wanted to buy. Our daily falling trend resistance remains intact (blue line on top of chart below) and it will be interesting to watch the price interact with this level of the coming days.

Daily Outlook: Well, as the title of the signal today states, Easter is upon us! Many of the banks in Europe are closed and many of the traders across the world have taken off until Tuesday. Most of the closed banks will open on Tuesday of next week after Easter Monday. For those of you looking to tread the choppy waters of the markets today and Monday there is only one setup I would be looking at: a short on a failure of the falling trend resistance and a long on a break.

Trading Idea: On a failure of the falling trend resistance an extinction candle just touching the 61.8% fibonacci (1.3605) would be ideal. If it never reaches that level it would still be a good resistance to hide a stop-loss behind. From 1.3605 short targets are 1.3580, 1.3550 and 1.3520. A sustained break above that level (and a riskier trade) targets 1.3620, 1.3650 and 1.3700.

(click to enlarge)
Happy

Quick Links:

Sign up for free forex signals via email here
FAQ on these signals

Forex Candlestick Alerts

Forex Income Calculator

Forex Market Hours

Forex Forums

Source: Happy Easter from PipHut!
Forex signals from: PipHut.com