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08 May 2014 | Free Forex Analysis | EURUSD : EVEN UP/EVEN DOWN

DB 0805 H4
DB 0805 M30

G’day Surfers – OMG, dead again.

Yesterday’s Report

EUR/USD crept straight back into it’s shell yesterday, producing a range of only 28 pips. Despite the meagre movement we spotted an opportunity Short that produced TP1 before reversing and then a setup Long that also produced a TP1 before News whipsawed (if that’s the right word in a ‘mini market’) us into a second Break Even trade.

Technical Analysis

Nothing bearish has appeared and the pullback to 1.3904 could not have been more precise. With Bullish Pivots and a decent Flag #1, I’m looking again, towards 1.4000. A STP Secret Candle Pattern sitting on a Hotspot is the only piece of the equation yet to be filled.

The Day Ahead

A big afternoon of News will have me keen to get in a free trading position before lunchtime. Could be a good ride, if successful.

High Impact News
1:45pm EUR Minimum Bid Rate
EUR ECB Press Conference
USD Unemployment Claims
3:30pm USD Fed Chair Yellen Testifies

Have a great Thursday.

Geoff Pyne  


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