How did it go yesterday
Let’s start off by the two signals that we have sent. The price , just after deleting the signals at the time of our trading, would have taken a short position and it would have brought quickly to the TP2. However , it did not happen which is fine. The price, especially in the afternoon, was affected by the FOMC: it did not surprise us since we were expecting that.
Today, the price has violently broken the resistance level 1.1300 and it has been brought near the 1.1400 level. If it continues to rise, it will be soon reaching the trendline that we traced several weeks ago. Anyway, the DP has not been yet tested. The triad is still rooting for the ascent of the EURUSD.
Plan of the day
We have two contrasting elements: the configuration of the triad DWM and failure to DP test which is positioned to the south. The action plan now is to try to test the DP and then evaluate a possible rise in the price. We’ll see. Today, however, we will be have several news due to the Eurogroup meeting. This means that we will only enter with a clear and strong signal and, if we do, we could modulate the risk.
Relevant economic news:
All Day EUR Eurogroup Meetings
2:30pm USD CPI m/m
USD Core CPI m/m
USD Unemployment Claims
4:00pm USD Philly Fed Manufacturing Index
Surfingthepips staff wishes you all a good day.
Daniele Angellotti Certified Trader | SurfingThePips.com