When PA pounced straight into action at London open yesterday, I thought – here we go. A mere 60 minutes later, it was back to normal as the market died, taking any hope of trading with it. Another sub 50 day as EUR/USD ranged only 43 pips and all in a 90 min timeframe.
Like so many days in the recent past, this Tuesday begins with PA hovering around 1.3600, with Pivots mixed and without clear (any really) direction. DP has been tested and retested so no assistance is being offered at all. As the latest Pennant #1 reaches its pointy end we of course look forward to a breakout. Any direction will do but an invitation to join in, would be appreciated.
The Day Ahead
No change really – waiting for the market to reveal its next move and preparing to catch it at a Hotspot. Absolutely no bias at all.
|11:00am||EUR||German ZEW Economic Sentiment|
|2:30pm||USD||Core Retail Sales m/m|
|USD||Retail Sales m/m|
|4:00pm||USD||Fed Chair Yellen Testifies|