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06 FEB 2013 | Free Daily Analysis | EURUSD : ACTION DAY !06 FEB 2013 | Free Daily Analysis | EURUSD : ACTION DAY !

06 FEB 2013 | Free Daily Analysis | EURUSD : ACTION DAY !06 FEB 2013 | Free Daily Analysis | EURUSD : ACTION DAY ! -->


G’day Surfers – welcome to Wednesday.

Yesterday’s Report

Price Action found some great support around our Daily Critical Zone & Support Trendline area and bounced 100 pips without offering a trading opportunity for us. On the retracement of this move we saw an opportunity to take the next phase. Unfortunately, the signal timed out prior to triggering so no entry for us. Those who didn’t cancel the order would have made target of Weekly Pivot.
Technical Analysis

The Trendline break we attempted to trade yesterday is once again the centre of attention as it is re-tested from above. Daily Pivot is untested below this level so it’s an interesting Hotspot. A break and re-test of this Trendline from below could see price fall. Should it become support however, look for Price Action to head North in a hurry. Would prefer to see Daily Pivot tested prior to that but it’s not compulsory.

The Day Ahead

I have an abundance of Resistance Trendlines (maybe too many) and I DO think they’ll be tested later today. I was interested to see Daily Pivot tested firstly and that has just happened – looking forward to some action.
High Impact News

Nothing on the radar.
Wonderful Wednesday everyone.

Geoff Pyne  

CERTIFIED TRADER


G’day Surfers – welcome to Wednesday.

Yesterday’s Report

Price Action found some great support around our Daily Critical Zone & Support Trendline area and bounced 100 pips without offering a trading opportunity for us. On the retracement of this move we saw an opportunity to take the next phase. Unfortunately, the signal timed out prior to triggering so no entry for us. Those who didn’t cancel the order would have made target of Weekly Pivot.
Technical Analysis

The Trendline break we attempted to trade yesterday is once again the centre of attention as it is re-tested from above. Daily Pivot is untested below this level so it’s an interesting Hotspot. A break and re-test of this Trendline from below could see price fall. Should it become support however, look for Price Action to head North in a hurry. Would prefer to see Daily Pivot tested prior to that but it’s not compulsory.

The Day Ahead

I have an abundance of Resistance Trendlines (maybe too many) and I DO think they’ll be tested later today. I was interested to see Daily Pivot tested firstly and that has just happened – looking forward to some action.
High Impact News

Nothing on the radar.
Wonderful Wednesday everyone.

Geoff Pyne  

CERTIFIED TRADER

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