G’day Surfers – it’s Breakout Day!
Not that I was expecting PA to stray too far from DP/WP combo but the small (42 pip) range the day produced, was full of volatility. The market looked in need of a sedative at one stage with PA bouncing around like a cork in the surf. We spotted a nice place to catch the Northbound acceleration and did exactly that. TP1 was effortless but the swell gave way quickly and market indecision prevented us hitting our target. Break Even the end result.
EUR/USD should be in a different place after today’s Interest rate announcement (tipped to be a reduction) and I expect we’ll see little action until just prior to that release. Pivots remain Bearish and DP tested but it’s all about Fundamentals today. Aim is to be Free Trading or money banked before the real action begins this afternoon so eagle eyes, early on.
The Day Ahead
Hotspots lie in wait but inside the range again looks best until later on.
High Impact News – CET
|Day 2||ALL||G7 Meetings|
|1:45pm||EUR||Minimum Bid Rate|
Enjoy the ride