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11 June 2013 | Free Daily Analysis | EURUSD : EARLY PIPS IN DULL MARKET

G’day Surfers – Early bird gets the worm!

Yesterday’s Report

We had barely opened our charts yesterday when a secret Surfing The Pips Candle Pattern alerted us to a Long entry.  We accepted the invitation and patiently waited in a typically slow Monday market, as Price Action (PA) edged its way to our target – which was hit. Nice start to the week.

Technical Analysis

The incomplete Bullish continuation Flag we spotted yesterday is now fully formed and been broken. No change has occurred in the Bullish Pivot Formation and again, all roads appear Northbound. There’s strong potential however, that a ruling by Germany’s Constitutional Court (due tomorrow) on last year’s ECB Policy, could spoil the party. With Daily Pivot (DP) untested below PA, I would expect a pullback prior to more buying – but its not compulsory.

The Day Ahead

I don’t expect a decision from the German Constitutional Bank today but the deliberations may stall the market a little. I’ll still look for a DP Test prior to a Long entry.

High Impact News – C.E.T.

Day 1 EUR German Constitutional Court Ruling

Terrific Tuesday All.

Geoff Pyne  
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