A perfect Doji closed the nearly doji week on Friday, as the compressed market continued its poor liquidity. A 33 pip Daily Range did nothing to enhance a 75 pip Weekly Range which all adds up to to a sleepy market.
The 1.3600 level continues to be the centre of attention, keeping the Pivots extremely compact. Only 19 pips separates the trio, with no sign of direction as Daily tucks itself between the two longer termers. Above 1.3600, I’m favouring Longs but should PA venture below the psychological level, my bias turns Short.
It being Monday, I’m thinking PA won’t venture too far from the Pivot family however and with DP untested above – a small move South, will hopefully provide an opportunity to trade back to DP Long.
The Day Ahead
Happy to trade either direction but as usual, preferring the DP Test should it present.
High Impact News – CET
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Have a great day and week.