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07 August 2014 | Free Forex Analysis | EURUSD : DP TEST COMES TOO LATE

DB 0708 H4
DB 0708 M30

G’day Surfers – Still no way in.

Yesterday’s Report

 

They played our game to the letter yesterday but it all happened way too slowly. PA sought and found our 1.3340 DCZ before it turned and headed for home (DP). The Pip perfect test of DP coming into the evening CET, outside of trading hours. In Australia, I was sleeping soundly and the Long order we placed earlier, had expired long before.

Technical Analysis

 

Pivots remain Bearish of course and today, DP is untested Below PA. I see yesterday’s pullback as an opportunity to get Short but I need a little more buying so we can play a Hotspot. At present, the only one available, waits above. There may even be an early opportunity to play a counter trend Long, in search of Resistance. EURO Interest Rate and ECB Statement this afternoon should shape the week’s remainder.

The Day Ahead

 

Keen to get Short but maybe not just yet. A bounce off DP might be the play, in order to find a Short setup.

High Impact News

1:45pm EUR Minimum Bid Rate
2:30pm
EUR ECB Press Conference
USD Unemployment Claims

Have a great Thursday.

Geoff Pyne  

CERTIFIED TRADER

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