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10 February 2014 | Free Daily Analysis | EURUSD : NO CHANGE STILL IN RANGE

DB 1002 Daily
DB 1002 M30
Happy New Week Surfers.

Yesterday’s Report

 

EUR/USD rode the roller coaster on Friday, realising a further 50 pips to top off a positive week for the cross, almost erasing the fall of the week prior. A second consecutive poor NFP number did nothing to falter the rally.

Technical Analysis

 

The standout feature of today’s Chart is the multi crossing of our Pivots. With Daily now proudly strutting ahead (but not far from) of Weekly & Monthly a little farther South. This depicts a now Bullish market sentiment but with DP untested below PA, also suggests some pullback is needed. For mine, I’m not convinced we have a Trend at all and see PA continuing to range between our 1.3450 & 1.3700 Daily Critical Zones. It being Monday – that picture may not become clearer anytime soon.

The Day Ahead

 

It will be a little difficult to get Long with the DP/WP combo so far below PA so my favourite play will be a DP test.

High Impact News

 

Not today.

Magic Monday everyone.

Geoff Pyne  
CERTIFIED TRADER
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