Dear Surfers, let’s have a look at this interesting trading day.

How things went yesterday

Yesterday, prices went from 1.0600 to 1.0500 as we’ve foreseen: even if when prices approach to a very important support or resistance zone, there is always a minimum indecision.

Technical Analysis

Today the situation is quite neat, prices are enclosed between two undeniable trendlines and they are close to very important psychological lines.

Recalling to mind that DP has already been tested, that the DWM triad has a bear set up and that we’re looking at the creation of a bear macropatterm, our bias will follow that trend too.

Plan for the day

As we have already told you, we have a bear bias and we will wait for prices on the support trendline, if it will reach it: you should anyway pay attention to the fact that we’re close to the 1.0500 support line.

If prices will seem to go through another way, we will follow them, of course. Pay attention to the Italian 14.30 news.

Relevant Economic News

2:30pm                USD       Core Retail Sales m/m

USD       PPI m/m

USD       Retail Sales m/m

Have a nice day. We’ll keep in touch tomorrow