G’day Surfers – a near replay, but no trades.
EUR/USD produced a near replica of Tuesday’s market yesterday. This time however, we were denied entry. To be fair, there was a slight opening to play a Short an hour before London Session but the setup was marginal and dangerous so we opted for patience. Yesterday, that failed to reward us as Price Action refused us entry into another perfect delivery of our Daily Brief, Play of the Day: http://clip2net.com/s/5dHWhX
Well – can they do it three days consecutively? I can think of only one reason, why not: Fundamentals. Sure, Daily Pivot has snuck a further thirty pips away from Weekly but that gap is still not critical so there’s still room for Daily to move further North. There’s very little Resistance prior to our 1.3450 Daily Critical Zone and the Bulls appear full of running. So, why not a pullback to the once again untested Daily Pivot prior to another run at a new High?
The Day Ahead
I see no reason to change from this week’s “template” so I’ll look to play a counter – STRONG trend Short to Daily Pivot at very small stake and/or a Long if the opportunity presents itself.
High Impact News – C.E.T.
Despite scanning news reports, I have found nothing from the German Constitutional Court Ruling??? Watch for that.
|2:30pm||USD||Core Retail Sales m/m|
|USD||Retail Sales m/m|
Hope you have a Thoroughly enjoyable Thursday.