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10 December 2013 | Free Daily Analysis | EURUSD : MOLASSES MONDAY MARKET


G’day Surfers – It’s slow going uphill!

Yesterday’s Report

A 52 pip range and a slow moving market…….must have been Monday! The 26 pip day’s gain, took the entire day to achieve – no market for our strategy so no trade. Significantly, the Resistance we spoke of yesterday (where I expected a bounce), had no efffect.

Technical Analysis

 

It must be getting boring to read because it’s very much the same day in/day out recently so it surely is time for a change – maybe tomorrow! Daily Pivot (DP) heads up a Bullish pivot formation and there’s no evidence to suggest this rally is set to reverse. Indeed the top of our Channel #1 has now been broken and a re-test of that Resistance area, combined with an overdue DP test, might just be the catalyst for the acceleration we seek.

The Day Ahead

 

No change really – DP Test and Long unless a Reversal Pattern reveals itself!

High Impact News
1:00pm EUR ECB President Draghi Speaks

Terrific Tuesday everyone.

Geoff Pyne  
CERTIFIED TRADER
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