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05 September 2013 | Free Daily Analysis | EURUSD : FAIR DAYS WORK…..FAIR DAY’S PAY


G’day Surfers – tough but profitable day at the office.

Yesterday’s Report

I’m almost exhausted after the market made us work very hard for our money yesterday – but we were rewarded. A 30 pip range through Asia, UK & half of US Session finally broke, taking us with it. We were well prepared for the Long, the winner being our 3rd order of the day. Our first triggered, then took ages to reach TP1 before closing at Break Even. #2 failed to trigger and #3 procrastinated before accelerating beautifully to target.

Technical Analysis

 

This NFP week is throwing up some interesting conditions. Since NY close, EUR/USD has completely reversed to be bang on the same level as this time yesterday. Pivots remain Bearish and the 1.3115 target remains sharply in my focus. The market is highly unpredictable currently however and a stack of News is due for release today. I would counsel caution and small stake trading on good setups only.

The Day Ahead

With yesterday’s beautiful winner, there’s no need to risk our capital on a highly unpredictable day. That said, should the opportunity to Short to 1.3115 arise, I’m prepared to place a portion of my winnings on the table.

High Impact News – C.E.T.

 

Day 1 ALL G20 Meetings
1:45pm EUR Minimum Bid Rate
2:15pm USD ADP Non-Farm Employment Change
2:30pm EUR ECB Press Conference
USD Unemployment Claims
4:00pm USD ISM Non-Manufacturing PMI

Take care on Thoughtful Thursday – NFP EVE!

Geoff Pyne  
CERTIFIED TRADER

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