Just like it’s astronomical counterpart, an “eclipse” of all three Pivots is a rare occasion. Very much a feature of today’s EUR/USD charts however, we have Monthly & Weekly locked together, with Daily in their “shadow”, just 5 pips to the South. To continue the analogy PA will find it very difficult to NOT pay attention to the Pivots. EUR/USD is looking a little oversold, despite the closeness of the Pivots so a pullback looks likely, in a Bearish scenario.

The Day Ahead

The natural magnetic pull towards the Pivots aside, the market is in a Bearish mood. I’ll look to catch the pullback to Daily Pivot with a good setup but fter that, Price Action will lead the way.