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05 February 2014 | Free Daily Analysis | EURUSD : 45 PIP RANGE / 7 PIP “CRASH”

DB 0502 M30
DB 0502 H4

G’day Surfers – wakey, wakey.

Yesterday’s Report

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.

Technical Analysis

 

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

2:15pm USD ADP Non-Farm Employment Change
4:00pm USD ISM Non-Manufacturing PMI

 

 

Wonderful Wednesday all.

 

Geoff Pyne  
CERTIFIED TRADER
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