Happy New Week Surfers.
Yesterday’s Report
We were taken into our S&R Long late on Thursday so found ourselves in a Friday Market which of course is not our modus operandi. After giving PA a chance to deliver a free trade, we closed the position so the relaxation could begin. We donated 2 pips to our brokers. For what it’s worth, EUR/USD ranged 42 pips to close the week just shy of 1.3700.
Technical Analysis
That level should again prove the testing material so really nothing has changed whilst the market decides which side of this extremely popular figure, we should concentrate. Pivots have assumed a Bearish formation as last week’s falls take effect. Intraday charts appear to be in contrast, the appearance of an inverted Head & Shoulders #1, suggesting reversal. Let the battle begin. DP was where the market opened today after the weekend gap – perhaps it needs a REAL test?
The Day Ahead
It’s Monday so expectations aren’t high but the potential reversal at a key level has my interest. First up News may shape the day.
High Impact News – CET
| 9:00am | EUR | German Buba President Weidmann Speaks |
Magic Monday everyone.
Geoff Pyne
CERTIFIED TRADER
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