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10 March 2014 | Free Daily Analysis | EURUSD : EURO HAPPY BUT PULLBACK NEEDED

DB 1003 M30
DB 1003 Weekly

Happy New Week Surfers

Yeserday’s Report

EUR/USD held the ground it took on Thursday to remain above its highest level since 2011. A decent NFP number briefly upset the gamboling EURO but it fought back late in the US Session to end the week looking Bullish @ 1.3871.

Technical Analysis

 

The now broken long term Resistance Trendline #1 is screaming for a re-test, as is an untested DP, which has snuggled up nice and close to Weekly. My bias is definitely affected by these two factors and I will not be seeking a Long entry until PA pays them attention.

The Day Ahead

 

The cross is very Bullish but the two magnets South have my full attention. It;s tough to think Short however and the setup would need to be compelling. Monday Market might keep me quiet.

May your Monday be Marvellous.

 

Geoff Pyne  

CERTIFIED TRADER  

 
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