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19 November 2014 | Free Forex Analysis | EURUSD : NO BOUNCE=NO ENTRY

DB 1911 H4
DB 1911 M30

G’day Surfers, Range pierced again.

Yesterday’s Report


EUR/USD forgot to reverse after the predictable tests of both DP and DCZ 1.2510. We were looking for opportunities to trade with the tests or back into the ‘DCZ Range’ afterwards. That no setup arrived prior to the rally to those levels was a little disappointing but then PA went into consolidation and gave us nothing at all. At day’s end, a 100 pip gain for the cross but no entries.

Technical Analysis


DCZ 1.2510 is clinging on to PA as best it can and remains a key level. Pivots are mixed and the release of the Fed Minutes later today makes choosing a direction, a difficult task. Indeed, fundamentals may keep PA very subdued today and opportunities may be few. Whilst above 1.2510 and DP (which are snuggled up close together), I’ll be favouring Longs but the reverse applies should PA re-enter the range between 1.2510 and 1.2400 – a place I’d prefer to trade.

The Day Ahead


News might play a part but I’m really quite open to what PA is prepared to give. I’m watching 1.2510/DP very closely.

High Impact News – CET

2:30pm USD Building Permits
8:00pm USD FOMC Meeting Minutes

Have a Wonderful Wednesday

Geoff Pyne  


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