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12 November 2014 | Free Forex Analysis | EURUSD : EURO HOLIDAY RALLY

DB 1211 H4
DB 1211 M30

G’day Surfers – let’s start again!

Yesterday’s Report
 
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.
Technical Analysis
 

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

Geoff Pyne  

CERTIFIED TRADER

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