G’day Surfers – Break even, before break out!

Yesterday’s Report

 

Another day, another spike higher for EUR/USD on a Monday that wasn’t spectacular, but showed a little spirit. We spotted an opportunity to catch the latest rally and entered Long, achieving TP1 but not our target as PA retraced prior to the ‘real’ acceleration a few hours later.

Technical Analysis

Pivots remain Bullish with DP recently tested. That removes the magnetic attraction Short but, an as yet not re-tested former Resistance Trendline and DCZ 1.3815 remain on my mind. No denying the cross looks very Bullish however. As I observed yesterday, EUR/USD is in it’s seventh consecutive positive week. Should this week end that way, it will be the first time since November 2004 for seven on the trot!!