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14 January 2014 | Free Daily Analysis | EURUSD : MARKET CONTEMPLATES

DB 1401 H4
DB 1401 M30

G’day Surfers – we’re still consolidating.

Yesterday’s Report

 

No market yesterday as Traders decided consolidation was required, post NFP Friday. The Daily Pivot Test we were looking to play FINALLY occurred but was untradeable. Really a typical Monday market that saw a range of less than 50 pips on EUR/USD – no trades.

Technical Analysis

 

No resolution to my question of yesterday regarding targets North & South, given the near doji day. In fact, the mixed scenario is even more so, given a tested Daily Pivot (DP) is fairly central, between Weekly & Monthly. Price Action (PA) appears comfortable in the current range, cruising within 1.3550 & our 1.3700 DCZ. Yesterday’s High almost matched  friday’s creating a double top – perhaps that’s the directional sign?? For the record, I’m slightly Bearish but that’s as much intuition than technical know how.

The Day Ahead

 

The beautiful nature of consolidation is that it breaks and if at our Hotspot with a Secret Surfing The Pips Candle Pattern, we make money! Sounds like a plan – eh?

High Impact News – CET

2:30pm USD Core Retail Sales m/m
             USD Retail Sales m/m
 

Tip Top Tuesday everyone.

 

Geoff Pyne  
CERTIFIED TRADER
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