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08 April 2014 | Free Forex Analysis | EURUSD : FREE TRADING MARATHON

DB 0804 H1
DB 0804 H4

G’day Surfers – Mixed bag today.

Yesterday’s Report

 

At 52 pips, yesterday’s EUR/USD range was greater than the recent average for ‘post NFP Monday’ but not enough to complete our Long order which is still free trading, some 18 hrs after it triggered!! Needless to say, PA was very lazy as it edged away from the 1.3700 DCZ.

Technical Analysis

 

DP & WP remain glued together and untested below PA, suggesting strong magnetism Short. The Bearish Pivot formation supports that theory but I’m not a fan of the Bears. Now back inside the 1.3700/1.3815 DCZ range and at the bottom of a decent looking Flag Pattern #1, I’m of the opinion that the quest for 1.4000 may be set to resume. A little conflict then, between the current Bearish Trend and a ‘bottom heavy’ Flag. Should be interesting!

The Day Ahead

 

Would like to see DP tested (after our existing trade hits target of course) and another setup Long, somewhat counter trend!

High Impact News

4:00pm

USD JOLTS Job Openings

Terrific Tuesday Trading troops.

Geoff Pyne  

CERTIFIED TRADER

 
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