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.
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
|4:00pm||USD||Existing Home Sales|
|USD||Philly Fed Manufacturing Index|
Have a Thrilling Thursday everyone.