Still sporting a liberal dose of PA repellent, we attempted twice yesterday. to play the DP Test Short. EUR/USD’s 47 pip range (apart from being very small) however was in the main Bullish so no DP test and no entries.
As PA approaches 1.3815 yet again, the DCZ (as if be decree) becomes the central focus of attention. As all the weeks big news events start queuing for release, so too my expectation of small volume and tight trading ranges increases. DP, already tested today has jumped between WP and MP, confirming my view of a mixed market. No bias again today but inside the 1.3815/1.3700 DCZ’s is my favourite ‘playground’ until News takes over.
The Day Ahead
Cautious but looking to trade inside the range, rather than outside. Shorts favoured for that reason.
High Impact News
|2:15pm||USD||ADP Non-Farm Employment Change|
Wonderful Wednesday everyone.