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16 July 2014 | Free Forex Analysis | EURUSD : NOT GREAT BUT MUCH BETTER

DB 1607 H4
DB 1607 M30

G’day Surfers – is the Giant awakening?

Yesterday’s Report

After a bungee type start to the day yesterday, EUR/USD found a direction and made a bit of a statement. It’s early days but what we saw of PA’s elevated pulse rate was encouraging. No entries for us as PA shied away from both of our Intraday and our Swing & Relax Long orders.

Technical Analysis

 

Pivots believe that EUR/USD HAS found a direction and have adopted a Bearish formation, On a single day’s selling, I’m not convinced. Certainly a re-test of our 1.3585 DCZ would get me in the submarine, should it hold as Resistance. That level, is exactly our untested DP level so my Short term bias is definitely Long to fulfil the DP Test. Once that has occurred, it should be game on!

The Day Ahead

 

Looking for the 1.3585/DP Test is priority. Should it act as Resistance – I’m a Bear. I’ll run with the Bulls, if it doesn’t.

High Impact News

2:30pm
USD PPI m/m
4:00pm
USD Fed Chair Yellen Testifies

Wonderful Wednesday everyone.

Geoff Pyne  

CERTIFIED TRADER

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