G’day Surfers – UP, UP & …….

Yesterday’s Report

No surprises that a ‘post NFP’ Monday produced a range of only 37pips and less surprise, that no intraday setups presented. Pretty cool however, that our Swing & Relax strategy, spotted the day’s ONLY opportunity. To be fair, the entry came during Asia session earlier today and we are currently enjoying a free trade, in a market that looks keen to go higher.

Technical Analysis

 

After the past two weeks, I’m a little hesitant to use the ‘F’ word! But fear is a traders Achilles heel so here we go……..PA has all but tested the top of a Bullish continuation Flag #1 on Daily Chart. A break of this area should coincide with a test/break of the top of our DCZ – 1.3700. This is very much the crucial level of the day. The Bullish momentum launched on Thursday, has left a lonely DP in its wake and it now patiently awaits attention. It would be a great place for PA to launch an assault on 1.3700!! As a point of interest, EUR/USD put 5 positive days together only twice in 2013 – today (should it be positive) will be the fifth day of consecutive gains !!