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”!!……………………
Bernard Barouch
Ed Milband
Have a great and Peaceful Weekend everyone………………“What the world needs………”
Geoff Pyne
CERTIFIED TRADER
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