G’day Surfers – How did we miss?
Yesterday’s Report
Sometimes the Crystal Ball can be in sharp focus and the market simply won’t yield a pip. For me, yesterday was such a day as Price Action (PA) followed my template as though tracing it http://clip2net.com/s/50oXQo . Yet apart from an imperfect setup prior to London Session (our trading hours) EUR/USD refused to offer us safe entry. It happens – there’ll be more moves today.
Technical Analysis
Situation is a little tricky with Daily Pivot untested above Price Action (PA), Mixed Pivots and therefore no clear trend and a substantial gap, between Daily & Weekly Pivot. A continuation Flag exists on smaller time frames but it has a longish consolidation “tail”. PA appears NOT to have been comfortable above our long term Resistance Trendline #1 which has done it’s job again, so far. It’s a mixed scenario then but I feel the Bulls may have a little more energy left.
The Day Ahead
High Impact News – CET
| 9:15am | EUR | Spanish Manufacturing PMI |
| 1:45pm | EUR | Minimum Bid Rate |
| 2:30pm | EUR | ECB Press Conference |
| USD | Trade Balance |
| USD | Unemployment Claims |
Enjoy the fireworks later on
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