G’day Surfers – got your ankle straps on?

Yesterday’s Report

 

NFP week can be a tough week to trade as the market often goes into it’s shell, awaiting the end of week announcement. Throw in some rumours of war and the mix can be “interesting”. The weekend’s gap and selling of EURO’s yesterday may well be construed as USD strength, associated with the Ukraine situation. There was no way for us to Short EUR/USD yesterday by the way and we stayed flat, as our solitary Long order expired.

Technical Analysis

 

This morning’s “return to base’ news has negated yesterday’s selling and I’m hoping, eases the uncertainty the market is displaying. Not surprisingly, Pivots are mixed with DP tested and we find PA ‘hung’ between DCZ’s 1.3700 & 1.3815 with an open gap to the North. This now familiar part of our charts can be considered no man’s land and assists very little in a directional bias. Barring no further news from Ukraine – there may be little change today.