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09 October 2013 | Free Daily Analysis | EURUSD : PROFITS RUN ON FINE LINE

G’day Surfers, we found the Break Point – again!

Yesterday’s Report


It took what seemed an age to get there (and it was almost Break Even) but we hit our DR-1 Target after entering Long as EUR/USD broke out of consolidation. Our official Broker’s M1 Chart shows how we barely stayed in the trade (our amended Stop the Red line) before PA got going and hit our Target. The ability of our Strategy to isolate Breakouts never ceases to amaze (and please) me. On a less than 50 pip Doji day, you have to be happy to hit your target!

Technical Analysis


The Roller Coaster is open for business on EUR/USD as the nervous market finds it difficult to build and maintain momentum. All appears “normal” from a macro perspective – Daily/Weekly Charts a nice sequence of Higher Hi’s/Lo’s. Like a Swan on a lake, there’s turmoil happening underwater (Intraday Charts), where we conduct our business. Pivots remain Bullish & still no reversal is evident.

The Day Ahead


Respect the “turmoil” underwater and trade with small stakes until the U.S. “clouds” disappear. Good setups at Hotspots remains the procedure – it’s working well so no need to change!
High Impact News – CET
8:00pm USD FOMC Meeting Minutes

Wonderful Wednesday everyone.

Geoff Pyne  

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