Dear Surfer friends;
Welcome to our usual daily analysis!!
How did it go yesterday?
We have said that the EURUSD may had planned to break the 1.1300 level. After having broken an important resistance trendline, it seems that now it has every intention to reach again the 1.1500 level.
After breaking the trendline, the situation is delicate because the price has to confirm its wish to go north, probably chasing the 1,1500 level . The important rise from yesterday allowed the DP, among others that have not been yet tested , to change its location in order to make the configuration DWM bullish.
Plan of the day
Our bias are mainly bullish but it is probable that the price will still want to retest the violated trendline.However, we are in an upward extension situation so we need to be caution. Moreover, take into account that European banks are closed in the afternoon and Mario Draghi will be giving a speech. Dangerous day today folks!
Rellevant economic news
All Day EUR French Bank Holiday
All Day EUR German Bank Holiday
2:30pm USD PPI m/m
USD Unemployment Claims
5:00pm EUR ECB President Draghi Speaks
SurfingThePips staff wishes you a happy thursday!!
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