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12 FEB 2013 | Free Daily Analysis | EURUSD : YO YO EURO12 FEB 2013 | Free Daily Analysis | EURUSD : YO YO EURO

12 FEB 2013 | Free Daily Analysis | EURUSD : YO YO EURO12 FEB 2013 | Free Daily Analysis | EURUSD : YO YO EURO -->

 

 

G’day Surfers – consolidation continues.

Yesterday’s Report

Our Pivots seldom lie to us and yesterday, their mixed and compact nature suggested not only was the market without direction – it was not going to move very far. That EUR/USD closed less than 40 pips from it’s open, is proof enough. We were looking to trade Long targeting Daily Pivot and found an entry that produced a quick first Take Profit but not a second. Our first trade of the week closing out at Break Even.
Technical Analysis

Really no change in the 24hrs just passed – Price Action is being supported by a combination of Monthly Pivot and our former Resistance Trendline #1, and trading inside a Rectangular #2  75 pip range. Still no concrete evidence of direction with our Pivots still mixed, reflecting the sideways nature of the market. The crucial level remains our former Resistance Trendline  and until I see a sustainable break underneath it, I’ll remain a little Bullish – just a little.
The Day Ahead

Without clear direction, AAA setups are paramount today – any signals we get must be traded on their merit so small stakes could well be the order of the day. I fancy the confluence of our nearest Support Trendline #3 with the longer term former Resistance Trendline #1 as the Hotspot of the day – which way we trade it, will depend on Price Action.
High Impact News

Not today
Trust your Tuesday is TERRIFIC.
Geoff Pyne  
CERTIFIED TRADER

 

G’day Surfers – consolidation continues.

Yesterday’s Report

Our Pivots seldom lie to us and yesterday, their mixed and compact nature suggested not only was the market without direction – it was not going to move very far. That EUR/USD closed less than 40 pips from it’s open, is proof enough. We were looking to trade Long targeting Daily Pivot and found an entry that produced a quick first Take Profit but not a second. Our first trade of the week closing out at Break Even.
Technical Analysis

Really no change in the 24hrs just passed – Price Action is being supported by a combination of Monthly Pivot and our former Resistance Trendline #1, and trading inside a Rectangular #2  75 pip range. Still no concrete evidence of direction with our Pivots still mixed, reflecting the sideways nature of the market. The crucial level remains our former Resistance Trendline  and until I see a sustainable break underneath it, I’ll remain a little Bullish – just a little.
The Day Ahead

Without clear direction, AAA setups are paramount today – any signals we get must be traded on their merit so small stakes could well be the order of the day. I fancy the confluence of our nearest Support Trendline #3 with the longer term former Resistance Trendline #1 as the Hotspot of the day – which way we trade it, will depend on Price Action.
High Impact News

Not today
Trust your Tuesday is TERRIFIC.
Geoff Pyne  
CERTIFIED TRADER

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