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17 May 2013 | Free Daily Analysis | EURUSD : PULLBACK ACCOMPLISHED

G’day Surfers – ready for the weekend?

Yesterday’s Report

Consistent with the need for pullback yesterday, Price Action broke consolidation to the North, stopping beautifully, on our Resistance Trendline #1, where it turned immediately, bound for another test of the long term Support #2. Twice we tried to catch the rally, with only our second attempt triggering to TP1 for a Break Even result. It appeared the buyers held out for the swag of U.S. news which set the rally in motion. A third order looking for a Short, was totally ignored. No harm done, our money safe until next week.

Technical Analysis

It being Friday – no real interest but with PA back below the Support Trendline & a pullback yesterday, I’m thinking SHORT.

The Day Ahead

A renovating weekend for me so plenty of opportunity to conjure a thirst for a couple of cold beers I think. I trust yours is a nice weekend, whatever it is that fills your agenda.

Spend some time this weekend on home improvement; improve your attitude toward your family. – Harold Ramis

Enjoy!

Geoff Pyne  
CERTIFIED TRADER

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