With “All the President’s Men” celebrating yesterday, there was no market at all. The 32 pip Doji would be acceptable on an M30 Chart but it was in fact, the Daily Candle. Nothing more to say except glad we stayed away!
PA made it’s way to 1.3700 on Friday and its there that it remains, having broken the Descending Channel. A lack of conviction in that move, has me wondering how serious buyers are in their efforts to take EUR/USD above 1.3700. The confluence of 1.3815 and long term Resistance Trendline #1 is compelling evidence that Long is where the cross is headed. Bullish Pivots agree with that and I’m also a fan, despite the “comfort zone” below 1.3700 beckoning PA back.
The Day Ahead
Looking for Longs but perhaps a re-test of the broken channel first. Plan A is set!
High Impact News – CET
|11:00am||EUR||German ZEW Economic Sentiment|
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