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05 August 2014 | Free Forex Analysis | EURUSD : MARKET SLEEPS

DB 0508 H4
DB 0508 M30

G’day Surfers – Holiday Season??

Yesterday’s Report

Tis the season to be Holi…….daying and that’s pretty much what we got yesterday. EUR/USD ranged 22 pips and showed signs that the sun tan was being worked on. Not even a thought of an entry was contemplated.

Technical Analysis

DP has edged a little further between WP & MP but really (with such a non event yesterday) not a thing has changed. My bias remains Bearish though i must confess to being very cautious of an illiquid market that really is struggling in the vital signs department. My reaction to this compression is to ‘compress’ my risk on any trade I enter so Full Stake trading for me – is like the market – on Holidays.

The Day Ahead

Most days I can find a reason to be confident s nice move is just ahead. Today is NOT one of those days. Hot Spots await as usual so nothing will change (except maximum risk).

High Impact News – CET

4:00pm USD ISM Non-Manufacturing PMI

Trust your Tuesday is Terrific.

Geoff Pyne  

CERTIFIED TRADER

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