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06 February 2014 | Free Daily Analysis | EURUSD : PROFITABLE DESPITE 1ST 2014 LOSER

DB 0602 H4
DB 0602 M30

G’day Surfers – nervous range continues.

Yesterday’s Report

 

It was a bumpy ride yesterday as Price (PA) tested both sides of the growing channel #1 (Bearish continuation Flag), displaying nervousness as it darted to & fro. We sustained our first wound of the year, taking a loss on an attempted Short. The 11 pip candle we traded wasn’t big enough to sustain the market’s volatility, which eventually produced a breakout Long. A secret Surfing The Pips Candle Pattern alerted us to the move and we quickly erased the loser to end the day marginally positive. Must apologise for mislabelling the signal – was having a bad day!

Technical Analysis

 

As NFP week nears the pointy end, there exists no further evidence of direction. Pivots remain Bearish, complementing the Flag’s intent and Daily Pivot continues to mesmerise PA. We need our work completed early today due to a massive afternoon of News which may tend to keep the market very quiet prior. The week continues to be a reversal of last – could that mean the Flag will break North??? We’ll see.

The Day Ahead

 

It will probably be snoozey until the News and we are still waiting for a Break South. News aside – the Break should be substantial when it comes!!

High Impact News

1:45pm EUR Minimum Bid Rate

2:30pm

EUR ECB Press Conference

 

USD Trade Balance
USD Unemployment Claims

The early bird gets the worm – cheep, cheep!

Geoff Pyne  
CERTIFIED TRADER
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