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02 July 2014 | Free Forex Analysis | EURUSD : EUR/USD ON LIFE SUPPORT!

DB 0207 Daily
DB 0207 H1

G’day Surfers – what was/wasn’t that!

Yesterday’s Report

Yes, we expect NFP week to produce a slow market but yesterday was simply ridiculous! Aided by a magnifier, I can make out that the Day’s range was 24 pips. That makes intraday trading impossible – so we stayed well away. Late in the day, we spotted an opportunity to employ the Swing & Relax strategy. That Long order, is yet to trigger.

Technical Analysis

 

It would be easy to forget yesterday existed but even though very ‘inadequate’ in volume – sometimes size doesn’t matter. Monday’s range break #1, became Tuesday’s retest of the top of that range (1.3670) and gives me a Long bias. Pivots are mixed but DP is untested above PA – agreeing with my Bullish sentiment. We COULDN’T get a repeat of the nothingness of yesterday – could we?

The Day Ahead

 

Still looking for PA to test DCZ 1.3735 so a Long setup is preferred.

High Impact News – CET

2:15pm USD ADP Non-Farm Employment Change
5:00pm USD Fed Chair Yellen Speaks

Wonderful Wednesday everyone.

Geoff Pyne  

CERTIFIED TRADER

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