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18 March 2014 | Free Daily Analysis | EURUSD : EURO CHALLENGES DECADE OLD RUN

DB 1803 M30

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!!

The Day Ahead

Whilst stats don’t lie and magnets attract, Long remains the trend to trade. If I sniff that reversal is on however ……. well, we’ll see.

High Impact News – CET

11:00am EUR German ZEW Economic Sentiment

1:30pm

USD Building Permits
USD Core CPI m/m

Terrific Tuesday everyone.

Geoff Pyne  

CERTIFIED TRADER

 
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