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15 JAN 2013 | Free Daily Analysis | EURUSD : BULLS RECHARGED?15 JAN 2013 | Free Daily Analysis | EURUSD : BULLS RECHARGED?

15 JAN 2013 | Free Daily Analysis | EURUSD : BULLS RECHARGED?15 JAN 2013 | Free Daily Analysis | EURUSD : BULLS RECHARGED? -->


 

G’day Surfers – BORING!!

Yesterday’s Report

Absolutely no surprises yesterday as EUR/USD marked time in a 67 pip range (less than 60 through London/NY Sessions). despite the consolidation our Secret Surfing the Pips Candle Patterns were up for some action. We spotted 4 separate signals but Price Action didn’t have the strength to approach even one and they all timed out without triggering. No Action = No Pips but importantly, no losses.

Technical Analysis

Daily Pivot has “self tested”, zooming up to meet the congested area around 1.3350, thus reducing the high probability of Price Action paying a visit. EUR/USD still appears overbought and the gap between our pivots has widened considerably – confirming this analysis. The pullback we’ve been calling for has not occurred so today’s conundrum: Has the consolidation been enough to set the Bulls back in action? OR Is the pullback still imminent? My Crystal Ball’s out on loan but I confess that I’d feel far more comfortable looking for a Long, after a pullback to our long term Resistance Trendline and rely on it to provide Support. Such is the conviction of the Bulls however, that may be a luxury not on offer. Pivots are VERY Bullish.

The Day Ahead

Both Support & Resistance Hotspots lay in waiting and I have absolutely no idea which has the higher probability of attracting Price Action – but that doesn’t matter. I don’t need sentiment to trade – just setups. Without a clear reversal signal – I’m a little Bullish because of the strong trend but the “pullback thing” has me on my toes.

High Impact News

Not today

Trust your Tuesday turns out tremendously!

Geoff Pyne  

CERTIFIED TRADER


G’day Surfers – BORING!!

Yesterday’s Report

Absolutely no surprises yesterday as EUR/USD marked time in a 67 pip range (less than 60 through London/NY Sessions). despite the consolidation our Secret Surfing the Pips Candle Patterns were up for some action. We spotted 4 separate signals but Price Action didn’t have the strength to approach even one and they all timed out without triggering. No Action = No Pips but importantly, no losses.

Technical Analysis

Daily Pivot has “self tested”, zooming up to meet the congested area around 1.3350, thus reducing the high probability of Price Action paying a visit. EUR/USD still appears overbought and the gap between our pivots has widened considerably – confirming this analysis. The pullback we’ve been calling for has not occurred so today’s conundrum: Has the consolidation been enough to set the Bulls back in action? OR Is the pullback still imminent? My Crystal Ball’s out on loan but I confess that I’d feel far more comfortable looking for a Long, after a pullback to our long term Resistance Trendline and rely on it to provide Support. Such is the conviction of the Bulls however, that may be a luxury not on offer. Pivots are VERY Bullish.

The Day Ahead

Both Support & Resistance Hotspots lay in waiting and I have absolutely no idea which has the higher probability of attracting Price Action – but that doesn’t matter. I don’t need sentiment to trade – just setups. Without a clear reversal signal – I’m a little Bullish because of the strong trend but the “pullback thing” has me on my toes.

High Impact News

Not today

Trust your Tuesday turns out tremendously!

Geoff Pyne  

CERTIFIED TRADER

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