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12 July 2013 | Free Daily Analysis | EURUSD : CALM AFTER STORM

G’day Surfers – what a week!!

Yesterday’s Report

Post NY & Pre-Asia is normally a time of peace & quiet in the FX Market – NOT YESTERDAY! EUR/USD was in BIG demand as Fed Chairman Bernanke delivered his scheduled speech during Wednesday’s NY Session , the market going into Hyperdrive sometime later. Asia Session yesterday, delivered some pullback leaving us a dead London session with which to deal. A late rally saw the cross close at 1.3095, some 285 pips higher than before Bernanke spoke on the prior evening. No opportunities for us to trade during the consolidation session. Another 100% week so no problems!

Technical Analysis

The market has had a few sessions to come to terms with the huge rally and it will be interesting to see the now considered reaction.

The Day Ahead

Ashes Test 1 – Day 3. (That’s a game of cricket) – so it’s the Lounge Lizard life for me!! Like most sports, cricket has it’s characters – most of whom finish their careers behind the commentator’s microphone. Their banter is a constant source of amusement:

“That slow-motion replay doesn’t show how fast the ball was travelling” – Australian Legend – Richie Benaud

“In my day 58 beers between London and Sydney would have virtually classified you as a teetotaller” – Australian Legend – Ian Chappell, after batsman David Boon drank 58 cans of beer on the flight from Australia to England

Ahhh, those Aussies – a rare breed indeed – I’m off to the PUB!! Have a great weekend.

Geoff Pyne  
CERTIFIED TRADER
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