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17 April 2014 | Free Forex Analysis | EURUSD : MARKET YIELDING LITTLE

DB 1704 H4
DB 1704 M30

G’day Surfers – mini moves in compressed market.

Yesterday’s Report

 

The ‘squeeze’ continued yesterday as EUR/USED ranged a meagre 47 pips and produced yet another Doji day (3 from last 4). Again we found the day’s acceleration point and an easy TP1. The reluctance of PA to stray far from the compressed Pivots prevented us taking full profit and another BE trade was the result.

Technical Analysis

 

Today being an ‘early Friday’ has me cautious instantly but as PA congests, the likelihood of breakout increases. Still 50/50 in terms of direction so all eyes on Hotspots for clues. The gap created last weekend remains open, pivots are mixed and 1.3815 continues to support EUR/USD. There’s no secret formula here – just patience!

The Day Ahead

Any entry will be at small stake due to expected poor liquidity (you mean WORSE than all week??) My Long bias has diminished dramatically but flickers slightly. There will be no Daily Brief tomorrow or Monday while we enjoy the Easter Break.

Easter says you can put truth in a grave, but it won’t stay there. ~

Easter tells us that life is to be interpreted not simply in terms of things but in terms of ideals.

Easter Is The Only Time When It Is A Good Idea To Put All Your Eggs In One Basket.

Whatever your beliefs, have a lovely Easter. Please enjoy and stay safe – see you next week.

Geoff Pyne  

CERTIFIED TRADER

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