Happy New Week Surfers.
Had the Euro interest rate announcement been scheduled for this week, instead of last, EUR/USD (in my humble opinion) would now be trading at around 1.3300, rather than where it begins the week, @ 1.2935. An horrendous NFP figure on Friday raised a mere ripple in the market, because of the extraordinary rate announcement just 24hrs prior. Interesting days indeed.
Thursday’s crash absolutely dominates the Charts and the mandatory consolidation is now ‘in session’. Not surprisingly, this lull in proceedings is taking place where the crash found support – our 1.2945 DCZ. The DP/WP adhesion tends to attract PA as Stilton does mice and the two appear as inseparable as procreating serpents. My expectation then, is for PA to head towards the magnet but I stop well short of pronouncing myself Bullish.
The Day Ahead
The calm ‘after’ the storm is likely to continue but I’ll look to be cheeky and catch a DP Test, if the opportunity presents.
High Impact News