1.3700 finally yielded to the pressure of multiple tests yesterday with PA breaking through the technical and psychological barrier. We would have liked to go with it but no invitation was sent (or it’s still in the mail) and we found no way into the move. The only setups were Short and both attempts to enter were rejected – no trades.
A new Hi on Daily Chart, backed up by Bullish Pivots and a big target #1 to the North would suggest more of the same today. An untested DP below tempers my enthusiasm for Longs – without removing it. A pullback to DP would NOT be out of place but Shorting EUR/USD at present is NOT high on my priority list.
The Day Ahead
Keen to get Long but would like DP tested first. Signs of reversal may get me interested in trading the DP test – we’ll see.
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