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12 June 2014 | Free Forex Analysis | EURUSD : MOMENTUM DIES

DB 1206 Daily
DB 1206 M30

G’day Surfers – smell the rubber?

Yesterday’s Report

 

EUR/USD applied the brakes yesterday, ranging a meagre 36 pips. The Bearish momentum died as a result and trading was a non event. Once again, we spotted the day’s only acceleration point and attempted twice, to catch the move. Both orders expired prior but the target would have eluded us and Break Even would have been the result.

Technical Analysis

 

Pivots are now confirming the Bearish mood of the market and with 1.3500 beckoning, it’s tough to be thinking Long right now. Indeed, the Low of 2014 (1.3476) looks the likely next Support level. DP has been tested so it’s full steam ahead – or should that be Dive, Dive!

The Day Ahead

 

Looking Short to 1.3500 at least – it will be tough to trade Long until some fresh evidence appears.

High Impact News – CET
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
USD Unemployment Claims

Thrilling Thursday everyone.

Geoff Pyne  

CERTIFIED TRADER

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