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16 April 2014 | Free Forex Analysis | EURUSD : PA REPELLENT STILL WORKS

DB 1604 H4
DB 1604 M30

G’day Surfers – 2 attempts ; 2 refusals.

Yesterday’s Report

 

With only 43 pips of range to play with, PA still managed to avoid our entry levels yesterday. We were keen to play the DP Test but the market waited until both our Long orders expired before completing it’s almost daily duty.

Technical Analysis

 

The change today is minimal but nonetheless significant……or is it? DP has crossed both WP & MP to change formations from Bullish to Bullsh##…..I mean Mixed. As we noted yesterday, the market and Pivots are so compressed, there is probably not a lot to read into that. Indeed the indecisive market existed yesterday, as much as it does today. DP is tested so no edge to be had there. Have I mentioned 1.3815 before?……..yep, it’s still the yardstick – Bullish while PA stays above it. The tiny intraday, inverted H/S #1 won’t hurt either.

The Day Ahead

Favouring Longs but if PA gets a sniff below 1.3815 – the slide could continue.
High Impact News – CET

2:30pm
USD Building Permits
6:15pm USD Fed Chair Yellen Speaks

Wonderful Wednesday all.

Geoff Pyne  

CERTIFIED TRADER

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