It was one of those trading days where you would happily have visited the mother-in-laws, just to relieve the boredom. EUR/USD was slumbering all day long and despite placing three orders into the market – none were triggered. Price appears ‘welded’ to Daily Pivot! We spotted opportunities both Long & Short Intraday, which were ignored and our Swing & Relax Short, is yet to trigger.
We were attempting to trade a Bullish Flag break last week – this week, it’s a Bearish one that has consolidated on intraday Charts #1. Such is the Ranging nature of the market that next week might be different again! So still we look to 1.3450 to provide support should the Channel/Flag break South so it remains the testing material and key level. Pivots are still Bearish – so am I – at least until 1.3450!
The Day Ahead
With a sprinkling of News today – movement should occur. If it’s to the South and we get an entry signal – I’m there!
High Impact News
|ADP Non-Farm Employment Change
|ISM Non-Manufacturing PMI
Wonderful Wednesday all.