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11 DEC 2012 | Free Daily Analysis | EURUSD : Monthly Pivot Rules

 

Happy New Week Surfers

Yesterday’s Report

Lovely trade, lovely pips, lovely profit trading a very easy set-up. Price were finding clear support above Monthly Pivot, right above M-P we had also a Daily Critical Zone (one of our super killer horizontal levels), we spotted a bullish StP Secret Pattern and…go, full profit. Easy. Nice way to start the week. This december is going pretty well.

Technical Analysis

Pivot are in mixed mode, on Daily Chart we are still above a bullish area (trend line). The Key level is absolutely the same level I was talking about before, M-P. If price will pass again from that level we have huge probability of a bearish break-out of this daily trend line. For the bulls it’s pretty easy, check out the resistance level you have on the charts I attach here, that is the better HotSpot now available. If I see some good bullish StP Secret Pattern there I will give a hit, north.

The Day Ahead

We have already a short placed somewhere on EURJPY, H4 strategy, to catch a possible short break-out (read above). We’ll see. Remember if price action has to break M-P has to start from a distant place. For this reason I think this trade we’ll be much easier to catch with a higher time frame like H4. For the long side (read above).

High Impact News (C.E.T.)

 

11:00am EUR
German ZEW Economic Sentiment
2:30pm USD
Trade Balance
Have a pippy tuesday!
Davide Franceschini | Chief Trader
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