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05 DEC 2012 | Free Daily Analysis | EURUSD : No HotSpots, No Party.

 

G’day Surfers,

Yesterday’s Report

EUR/USD is simply continuing his bullish trend on every time frame, we already banked what was “bankable” on monday. Yesterday we didn’t have any retracement, Pivot was not tested and we stayed flat, keeping our gains safe.

Technical Analysis

Pivots are still in solid bullish set-up but Daily Pivot is once again not tested, situation is getting stretched. Trendlines are getting super-acute AND we are right now at Daily Critical Zone 1.3115. Everything is demanding for a pull-back. We need to see some resistance or support trendline to start trading. You know: No HotSpots, No Party.

The Day Ahead

I’m not buying at this stage but waiting for some reversal pattern (double top, head and shoulder….) to play a counter-trend trade. A test of D-P will be an interesting reason to find some long opportunities.

Have a pippy day Team!

Davide Franceschini | Chief Trader
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