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07 May 2013 | Free Daily Analysis | EURUSD : MIXED & BACK IN THE DCZ RANGE


Happy New Week Surfers.

Yesterday’s Report

With the fireworks of last week behind us, London took the day off yesterday, to celebrate May Day. The market rolled on of course but we choose not to trade when either London or New York don’t to avoid the added unpredictability that low liquidity can bring.

Technical Analysis

EUR/USD ventured outside the 1.3030/1.3115 Daily Critical Zone (DCZ) Range on Thursday but it’s well inside that range, we now find Price Action, once again. Daily Pivot has been tested but dwells midway between Weekly & Monthly, depicting a lack of trend and indeed direction. The appearance of a substantial Double Bottom #1 would suggest a rally but the partial Bearish Continuation Flag #2 is contradictory.

The Day Ahead

The existence of 2 nice Trendlines/Hotspots is reason for optimism today. I’m slightly Bearish in sentiment but without a great deal of conviction. A nice setup at either will be a welcome entry invitation, in either direction.

High Impact News

Not today

PLEASE NOTE THERE WILL BE NO LIVE TRADING ROOM TODAY AS I’M NOT FEELING VERY WELL – MY APOLOGIES FOR THAT AND I LOOK FORWARD TO SEEING YOU IN THE ROOM TOMORROW.

Have a great day.

Geoff Pyne  
CERTIFIED TRADER

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