After getting off to a flying start this week, trading was halted yesterday, by the Veteran’s Day Bank Holiday in the US. Surprisingly, the market was quite active and EUR/USD put in a 105 pip shift. A little more than half that was gain for the day.

We should learn today if yesterday’s buying was serious, or just some holiday speculation and profit taking. At this stage, I am thinking the latter is the case as Pivots remain Bearish, albeit only just. DP has been tested may well provide a springboard towards DCZ 1.2510 which was rejected on Monday. Should PA find its way back there and the level fails to hold, I might begin to entertain thoughts of reversal – but not till then. So overall bias remains Short but can definitely see 1.2510 as a key level today.

The Day Ahead

 

Happy to be guided by PA at our very clear Hotspots. With 1.2510 a definite game changer today, it will be nice to find a trade either toward it, or off it.

High Impact News – CET

 

Not today

Wishing you a Wonderful Wednesday

CERTIFIED TRADER