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19 December 2013 | Free Daily Analysis | EURUSD : TAPER DELIVERS WHIPSAW

DB 1912 H1
DB 1912 H4

G’day Surfers – Pullback accomplished.

Yesterday’s Report

 

It was all about the Fed tapering and not surprisingly, it rocked the market when announced. Indeed there was no market prior to the FOMC Statement which took our Swing & Relax order into the market delivering a TP-1 & allowing our stops to move to BE prior to sustained Euro selling, which didn’t abate until our DCZ 1.3700 was broken. Nice pullback was the result and a small winner from a volatile situation.

Technical Analysis

 

My final analysis for 2013 has me in Bullish sentiment, due to the High of 2013 remaining untested. However, a VERY clear Double Top will have the Bears tasting blood. An untested Daily Pivot (DP) has ducked below Weekly producing uncertainty and I kind of like that! I’m quite keen to find a Long but I won’t ignore the potential for the reversal Short to continue, should Price Action indicate that will be the case.

The Day Ahead

Looking for a DP Test Long with follow through as Plan A. Then, when the work is done – a Cold Beer to celebrate the end of another successful year of trading.

High Impact News – CET

2:30pm USD Unemployment Claims
4:00pm USD Existing Home Sales

 

USD Philly Fed Manufacturing Index

Have a Thrilling Thursday everyone.

Geoff Pyne  
CERTIFIED TRADER
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