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17 June 2013 | Free Daily Analysis | EURUSD : MOMENTUM SLOWS

Happy New Week Surfers.

Yesterday’s Report

EUR/USD couldn’t quite sustain the momentum of the week and tapered off just a little, unable to attain a fresh new High. The gap between Daily & Weekly Pivots, clearly not willing to stretch any further. It being Friday – no trading was contemplated.

Technical Analysis

With the new week, that gap has reduced to a very comfortable 34 pips and leaves the Pivot formation quite bullish. Clear Higher Lows & Lower Highs confirm recent consolidation, with the prospect of EUR/USD becalming, in a new Range. Daily Pivot has been tested but the consolidating nature of Price Action since Thursday, suggests it won’t be the last time today.

The Day Ahead

On a “no news” Monday, in a consolidating market, the prospects for entering, aren’t terribly favourable. That said, we have very clear/clean Hotspots so a nice Secret Surfing The Pips Candle Pattern at either, will see us in the pip hunt.

High Impact News

Nothing of note

Merry Monday everyone.

Geoff Pyne  

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