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12 April 2013 | Free Daily Analysis | EURUSD : HIGHER & HIGHER, BABY

G’day Surfers – yes “It’s A Living Thing”.

Yesterday’s Report

EUR/USD refuses submission to Technical Forces screaming for a substantial pullback and although yesterday was a nett gain of only 31 pips, there was no shortage of buyers. For Surfing The Pips, it was another perfect lesson in trading what you “SEE” and NOT what you “THINK”. My analysis resulted in a Bearish Short Term bias but Price Action suggested otherwise and delivered a decent Surfing The Pips Secret Candle Pattern three hours into London session. We pounced on the opportunity and took maximum pips from both take profits. In an otherwise “dry” week, we placed 5 orders for only two entries which resulted in a win and a break even. That’s a nice enough taste to take into our weekend.

Technical Analysis

As the cross continues to crash through Resistance Levels, it has reached another significant one in our 1.3115 Daily Critical Zone. If the pullback is to come – it could well be as a bounce off this area. Should the level break, it’s like ELO’s Jeff Lynne told us in the 70’s –  “Higher & Higher…..Baby………..”.

The Day Ahead

ELO or Elvis – it won’t matter to me until Monday, when I’ll again seek to quench my hunger for Pips. My attention is drawn to the interesting dialogue apparently unfolding between a “juvenile megalomaniac” & the “leader of the Free World”. An ironic smile comes to my face as both contemplate “laying down their guns”!!……………………

If the history of the past fifty years teaches us anything, it is that peace does not follow disarmament – disarmament follows peace.

Bernard Barouch

I want to move to a world of no nuclear weapons but I want to do that through multilateral disarmament so that we all disarm together.

Ed Milband

Have a great and Peaceful Weekend everyone………………“What the world needs………”

Geoff Pyne

CERTIFIED TRADER

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