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03 June 2014 | Free Forex Analysis | EURUSD : EUR/JPY BETTER VALUE

DB 0306 H4
DB 0306 M30

G’day Surfers – back to 1.3600.

Yesterday’s Report

PA jumped straight out of the starting blocks yesterday and headed exactly where the Pivots suggested – SHORT to DS-1. There was no way to trade our expectation however – the day’s trading (Monday of NFP week) was over shortly after it began. Our attention turned to EUR/JPY which setup Long on H4 so we entered and are currently Free Trading on our S&R Strategy.

Technical Analysis

 

The battle of 1.3600 continues with neither side giving ground. Early NFP week tends to be a bit of a stand off so we may have to be patient (yes again). Pivots remain Bearish with DP all but tested. Nothing has really changed and I expect that may well continue to be the case until later in the week. Trading inside a developing range may well be the ticket.

The Day Ahead

 

The Double Bottom may well be enough to force PA back towards mid 1.36 so I might look counter trend Long as Plan A.

High Impact News – CET

11:00am EUR CPI Flash Estimate y/y
 

Terrific Tuesday everyone.

Geoff Pyne  

CERTIFIED TRADER

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