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15 FEB 2013 | Free Daily Analysis | EURUSD : FLAG MIGHTIER THAN MAGNET15 FEB 2013 | Free Daily Analysis | EURUSD : FLAG MIGHTIER THAN MAGNET

15 FEB 2013 | Free Daily Analysis | EURUSD : FLAG MIGHTIER THAN MAGNET15 FEB 2013 | Free Daily Analysis | EURUSD : FLAG MIGHTIER THAN MAGNET -->

G’day Surfers – weekend time!

Yesterday’s Report

It’s not often I am in disagreement with our Pivots which yesterday were in Bullish formation. The Bearish continuation Flag was NOT to be denied however and only EURO sellers could be found. My preferred option was to trade Long yesterday after early selling but there was NO sign the selling would stop so no entry. I guess that makes the week easy to summarise: One Trade, One winner!

Technical Analysis

The trading landscape has changed quite a deal since this time yesterday with Daily Pivot crossing both Weekly & Monthly to the South. After it failed to attract Price Action yesterday – it has successfully sought it out earlier today. If EUR/USD can find a close above Monthly Pivot and yesterday’s Support Trendline, yesterday’s crash could well be obliterated.

The Day Ahead

Weekend Day 1 for me whilst the G20 Meetings commence – it’s all theirs! I see the EU pulled this one out of the hat yesterday: “The European Union’s executive formally proposed on Thursday a tax on financial trading in 11 countries to raise up to 35 billion euros annually, saying it was a first step to applying the levy across the whole bloc.” Ouch – think I’ll leave that alone and echo the words of Bill Archer:

We must care for each other more, and tax each other less. 

Have a great weekend everyone and remember.

Geoff Pyne  
CERTIFIED TRADER

G’day Surfers – weekend time!

Yesterday’s Report

It’s not often I am in disagreement with our Pivots which yesterday were in Bullish formation. The Bearish continuation Flag was NOT to be denied however and only EURO sellers could be found. My preferred option was to trade Long yesterday after early selling but there was NO sign the selling would stop so no entry. I guess that makes the week easy to summarise: One Trade, One winner!

Technical Analysis

The trading landscape has changed quite a deal since this time yesterday with Daily Pivot crossing both Weekly & Monthly to the South. After it failed to attract Price Action yesterday – it has successfully sought it out earlier today. If EUR/USD can find a close above Monthly Pivot and yesterday’s Support Trendline, yesterday’s crash could well be obliterated.

The Day Ahead

Weekend Day 1 for me whilst the G20 Meetings commence – it’s all theirs! I see the EU pulled this one out of the hat yesterday: “The European Union’s executive formally proposed on Thursday a tax on financial trading in 11 countries to raise up to 35 billion euros annually, saying it was a first step to applying the levy across the whole bloc.” Ouch – think I’ll leave that alone and echo the words of Bill Archer:

We must care for each other more, and tax each other less. 

Have a great weekend everyone and remember.

Geoff Pyne  
CERTIFIED TRADER

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