Happy New Week Surfers.

Yesterday’s Report

 

The 1.2500 psychological level and 1.2510 DCZ were enough Support to stop the 300 pip week long fall on Friday despite a further 88 pips being conceded. DP was passed through and the session was yet another bounty for the Bears.

Tehcnical Analysis

 

1.2500/1.2510 becomes the new line in the sand and the market gapped below those levels over the weekend. EUR/USD remains under extreme pressure and it remains very difficult to be anything but Bearish. The open gap and an untested DP might give intraday traders a short term target, making it a little uncomfortable to enter Short but it is still the overwhelming bias.