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17 JAN 2013 | Free Daily Analysis | EURUSD : CONGESTION CENTRAL…PLEASE STANDBY17 JAN 2013 | Free Daily Analysis | EURUSD : CONGESTION CENTRAL…PLEASE STANDBY

17 JAN 2013 | Free Daily Analysis | EURUSD : CONGESTION CENTRAL…PLEASE STANDBY17 JAN 2013 | Free Daily Analysis | EURUSD : CONGESTION CENTRAL…PLEASE STANDBY -->


G’day Surfers, Nice Entry/Exit/Pips if you didn’t cancel.

Yesterday’s Report

Another ranging Day for EUR/USD but we found a signal on H1 Chart that produced the acceleration we seek which, if you didn’t cancel the order, hit target (Daily Pivot) before recoiling back to its launch point. We won’t claim the 32 pips in our trading record due to some uncertainty with the Order Expiry period on H1 & H4 Trades. The rules for all three timeframes we trade will be made perfectly clear during next week’s Free Daily Webinars to avoid any confusion.

Technical Analysis

Absolutely a “cut & paste” yesterday’s analysis day today. The ONLY change to this time yesterday, is that Daily Pivot has snuck a little closer to Weekly. multiple false breaks of Support & Resistance lines/levels – very choppy. The dance along our super magnetic Resistance Trendline continues and the market as yet can’t decide if it’s better as Support or Resistance – maybe they will today?? So, again this is the focal point & H4 is showing me the potential for the break below this Trendline yesterday, to be proven false, courtesy of a break back above & re-test, during Asia Session Today. There have been numerous of these on smaller time frames however – maybe this time they’re serious? More questions than answers I’m afraid and it’s Congestion Central.  Pivots still Bullish and so am I – I think???

The Day Ahead

I’m reasonably confident that it’s breakout day and am of course hoping to be on the bus when it leaves. I’m favouring the Bulls still but, just as I was yesterday, quite willing to jump ship if it sets up for the Bears. Both my Support & Resistance Trendlines are very close to the congestion, a situation I don’t like. However, I will nominate my Hotspots there and hope Price Action pauses long enough to allow me onboard. That’s Plan A anyway.

High Impact News

2:30pm USD Building Permits

USD Unemployment Claims

4:00pm USD Philly Fed Manufacturing Index

Think Thursday will Thump – have a good one

Geoff Pyne  

CERTIFIED TRADER


G’day Surfers, Nice Entry/Exit/Pips if you didn’t cancel.

Yesterday’s Report

Another ranging Day for EUR/USD but we found a signal on H1 Chart that produced the acceleration we seek which, if you didn’t cancel the order, hit target (Daily Pivot) before recoiling back to its launch point. We won’t claim the 32 pips in our trading record due to some uncertainty with the Order Expiry period on H1 & H4 Trades. The rules for all three timeframes we trade will be made perfectly clear during next week’s Free Daily Webinars to avoid any confusion.

Technical Analysis

Absolutely a “cut & paste” yesterday’s analysis day today. The ONLY change to this time yesterday, is that Daily Pivot has snuck a little closer to Weekly. multiple false breaks of Support & Resistance lines/levels – very choppy. The dance along our super magnetic Resistance Trendline continues and the market as yet can’t decide if it’s better as Support or Resistance – maybe they will today?? So, again this is the focal point & H4 is showing me the potential for the break below this Trendline yesterday, to be proven false, courtesy of a break back above & re-test, during Asia Session Today. There have been numerous of these on smaller time frames however – maybe this time they’re serious? More questions than answers I’m afraid and it’s Congestion Central.  Pivots still Bullish and so am I – I think???

The Day Ahead

I’m reasonably confident that it’s breakout day and am of course hoping to be on the bus when it leaves. I’m favouring the Bulls still but, just as I was yesterday, quite willing to jump ship if it sets up for the Bears. Both my Support & Resistance Trendlines are very close to the congestion, a situation I don’t like. However, I will nominate my Hotspots there and hope Price Action pauses long enough to allow me onboard. That’s Plan A anyway.

High Impact News

2:30pm USD Building Permits

USD Unemployment Claims

4:00pm USD Philly Fed Manufacturing Index

Think Thursday will Thump – have a good one

Geoff Pyne  

CERTIFIED TRADER

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