From the charts, Friday appears another lacklustre day in the market, EUR/USD ranging 58 pips and displaying indecision. Consolidation therefore, brought an end to a Bearish week for the cross, in response to the whipsaw action of the previous, NFP week.
As a result, no change to the Bearish ‘flavour’ and the strong likelihood of 1.3500 and the Low of 2014 (1.3476), being shortly re-tested. Pivots agree and are in perfect Bearish formation with DP having been tested already. Tough to be Bullish right now.
The Day Ahead
I’m certainly favouring Shorts and am ready to roll. It being a ‘no news’ Monday, I’m hoping the market is as well.
High Impact News
Magic Monday everyone.