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09 January 2014 | Free Daily Analysis | EURUSD : MORE PROFITS ON UPSIDE DOWN REPLAY

DB 0901 H4
DB 0901 M30

G’day Surfers – we struck again!

Yesterday’s Report

A virtual mirror image of Tuesday, allowed us to take even more profit from the market yesterday. Instead of breaking North to Resistance (as per Tuesday’s trade), Price Action broke Short, taking us with it, hit Monday’s Low (our exit) and rallied. Great to see the secret Surfing The Pips Candle Patterns and our entire M30 strategy working beautifully in the first week of the year (NFP week) a traditionally tough time to trade.

Technical Analysis

 

Yesterday’s range was a little better at 82 pips as News began to assert itself. Everything remains Bearish but without great liquidity and therefore conviction. PA has found Support @ 1.3568 and if that level goes – look for EUR/USD at 1.3450 tomorrow. An unlikely change in Interest rates (announced today) could change that of course.

The Day Ahead

 

Still looking for Shorts but willing to consider Longs in this still consolidating market. Stick with the system – Secret Candle Patterns at Hot Spots – it works!

High Impact News – CET

1:45pm EUR Minimum Bid Rate

2:30pm

EUR ECB Press Conference
USD Unemployment Claims

Have a great Thursday everyone.

Geoff Pyne  
CERTIFIED TRADER
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