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04 September 2014 | Free Forex Analysis | EURUSD : FULL PROFIT FINALLY

DB 0409 M30
DB 0409 H4

G’day Surfers – long road but nice ending.

Yesterday’s Report

It took a full eighteen hours but finally, our Long target from Tuesday was hit yesterday but the time factor proved a little costly. An almost identical setup presented prior to our target being hit but because #1 was still in the market, a second entry Long was not considered. Once again beautiful acceleration took that non trade well past TP1 and eventually another target. Great to see the market ‘behaving’ that way.

Technical Analysis

 

The week looked certain to revolve around 1.3140 and that’s exactly where PA is, as I write this Analysis. As usual in NFP week, Thursday afternoon is all about Fundamentals so our pips must come early today. The potential for a decent move before the News is slim however so it may be a quiet day for our strategy. For the record, Pivots and Trend remain Bearish and for what it’s worth – my bias is to trade back into this week’s range, so Short.

The Day Ahead

 

Expecting little movement until News time but happy to ride any pre-emptive buying or selling. Either will be small stake however.

High Impact News – CET

1:45pm EUR Minimum Bid Rate
2:30pm
EUR ECB Press Conference
USD Trade Balance
USD Unemployment Claims
4:00pm USD ISM Non-Manufacturing PMI

Have a great day,

Geoff Pyne  

CERTIFIED TRADER

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