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16 September 2014 | Free Forex Analysis | EURUSD : RANGE INTACT

DB 1609 M30
DB 1609 H4

G’day Surfers – nothin doin.

Yesterday’s Report

 

Like a bad smell, EUR/USD EUR/USD continues to linger around DCZ 1.2945.  A series of false breaks of that level both Long and Short is becoming the norm. We found a long setup on both intraday and S&R strategys’ yesterday. The Intraday expired and the S&R is yet to trigger.

Technical Analysis

The seemingly Zero Retracement begins to look a little Flag #1 – ish, suggesting the Bears are preparing to re-enter the fray. Certainly, if the confluence of the DCZ and Support Trendlines we have been watching fails to hold, further falls should ensue and 1.2800 will loom large as next stop. I’m not convinced that this is the next move but it seems the most likely.

The Day Ahead

Nothing has changed, still seeking pullback above 1.2945 but Bearish below.

High Impact News – CET

11:00am EUR German ZEW Economic Sentiment
2:30pm
USD PPI m/m

Terrific Tuesday to you.

Geoff Pyne  

CERTIFIED TRADER

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