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05 March 2014 | Free Daily Analysis | EURUSD : WHAT WENT UP….CAME DOWN

DB 0503 H4
DB 0503 M30

G’day Surfers – tough to grab profits.

Yesterday’s Report

Three orders, two entries – two BE Trades. EUR/USD twice looked like breaking North yesterday and we were on both launches. Sadly, Buyers were either insufficient in number or resolve and failed to take us further than our first take profits. Somewhat ironically, our only Short order expired – it was the ‘money ball’! NFP week appears to have settled in and created it’s usual choppy PA.

Technical Analysis

 

For the first time this week, we have a guide as to short term direction – an untested DP. Like sister & brother, Daily & Weekly Pivots have not strayed farther than 8 pips from each other this week and naturally, PA is following closely. Still no bias other than the DP Test as PA continues to be bound in a first week of the month, typical range. Good news is, it must break. Hopefully at a Hotspot on the back of a Secret Surfing The Pips Candle pattern. Gap to the North remains open!

The Day Ahead

DP Test is my only preconceived notion but prepared for anything.

High Impact News – CET

 

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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