G’day Surfers – it’s like: “The Week EURO Went Flat”

Yesterday’s Report

As I write this – EUR/USD has traded in a 145 pip range since the Market opened on Monday, which produced the week’s High to date @ 1.3402. Tuesday was “big” action day as the cross “crashed” 129 pips to our long term Resistance Trendline that not only became Support (again) but hypnotised the market for the best part of 2 days until congestion forced a move yesterday. The move was consistent with the longer term Bullish Trend and not without warning. One of our favourite StP Secret Bullish Candle Patterns appeared right on London Open (a time we prefer to spectate for 30 mins). This combined with a stop loss greater than our strategy allows, kept us on the sidelines watching the move occur. Despite being a little pip hungry after a no trade (officially anyway – pssst: some of the team banked 32 pips) week, we maintained our discipline and protected our capital. This is a huge part of the reason our trading record is right up there with (better than ) the best so it’s a reason to celebrate the fact we maintained our composure, rather than lament the fact the move left without us.

Technical Analysis

The week’s high appears under threat and it would appear only Fundamentals will stop last year’s high (1.3485) being challenged as well.

The Day Ahead

After another mid 40’s C day in Oz, there won’t be a “watering hole” not packed to the rafters this Friday afternoon – it’s very tempting :). Wherever you are, I trust it’s in comfort and hope you have an absolutely fabulous weekend – see you on the other side of it.

Don’t judge each day by the harvest you reap but by the seeds that you plant.
Robert Louis Stevenson

Geoff Pyne  

CERTIFIED TRADER

G’day Surfers – it’s like: “The Week EURO Went Flat”

Yesterday’s Report

As I write this – EUR/USD has traded in a 145 pip range since the Market opened on Monday, which produced the week’s High to date @ 1.3402. Tuesday was “big” action day as the cross “crashed” 129 pips to our long term Resistance Trendline that not only became Support (again) but hypnotised the market for the best part of 2 days until congestion forced a move yesterday. The move was consistent with the longer term Bullish Trend and not without warning. One of our favourite StP Secret Bullish Candle Patterns appeared right on London Open (a time we prefer to spectate for 30 mins). This combined with a stop loss greater than our strategy allows, kept us on the sidelines watching the move occur. Despite being a little pip hungry after a no trade (officially anyway – pssst: some of the team banked 32 pips) week, we maintained our discipline and protected our capital. This is a huge part of the reason our trading record is right up there with (better than ) the best so it’s a reason to celebrate the fact we maintained our composure, rather than lament the fact the move left without us.

Technical Analysis

The week’s high appears under threat and it would appear only Fundamentals will stop last year’s high (1.3485) being challenged as well.

The Day Ahead

After another mid 40’s C day in Oz, there won’t be a “watering hole” not packed to the rafters this Friday afternoon – it’s very tempting :). Wherever you are, I trust it’s in comfort and hope you have an absolutely fabulous weekend – see you on the other side of it.

Don’t judge each day by the harvest you reap but by the seeds that you plant.
Robert Louis Stevenson

Geoff Pyne  

CERTIFIED TRADER