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06 August 2013 | Free Daily Analysis | EURUSD : MORE TESTS/NO BREAK


G’day Surfers – DCZ holds again.

Yesterday’s Report

Despite another test of 1.3285 and indeed 1.3300, EUR/USD was again unable to sustain Price Action (PA), above those levels. We spotted an opportunity to go with the High test yesterday and were rewarded with TP1. The buying unsustainability prevented us taking full toll, as PA headed back to Daily Pivot. A second opportunity to trade the Long arose but DP was too strong a magnet and no entry was the result.

Technical Analysis

PA has smothered DP through Asia Session and appears quite comfortable in consolidation. Our Pivots remain mixed, with Daily edging closer to Weekly but still below it. Very tough to find direction as this moment, with no standout reversal or continuation patterns to guide us. I’m slightly Bullish still but it’s high time 1.3285 was conquered.

The Day Ahead

I’m prepared to allow PA to lead the way. Hotspots & setups crucial to getting it right today.

High Impact News – C.E.T.

2.30pm

USD Trade Balance

Terrifc Tuesday Everyone

Geoff Pyne  
CERTIFIED TRADER

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