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13 May 2014 | Free Forex Analysis | EURUSD : MISSING MONDAY MARKET

DB 1305 daily
DB 1305 M30

G’day Surfers – waste of energy!

Yesterday’s Report

 

EUR/USD traders were absent without leave yesterday as the entire day managed a top to toe of a paltry 26 pips. Not even the magnetism of a combined DP/WP was enough to cajole buyers into the fray. Only a solitary M30 candle could boast more than 10 pips of movement. It was enough to take the stops on our Long trade that risked a very small 10 pips looking for the DP Test that never came.

Technical Analysis

 

The market had little choice but to ‘cool down’ a little after the carnage of Thursday & Friday but the freeze we witnessed did little to shape what happens next. DP diving below WP and MP is of course a reflection of late last week but is of no help. Daily Chart appears to be the most ‘directional’ presently and the Higher Hi’s & Lo’s are still pointing North!

The Day Ahead

The tiny market range of yesterday makes Hotspotting a difficult prospect. They exist, but their reliability remains to be seen. Small stakes recommended until some ‘REAL’ PA returns.
High Impact News
11:00am EUR German ZEW Economic Sentiment
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
Terrific Tuesday everyone.
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