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20 February 2014 | Free Daily Analysis | EURUSD : FOMC KILLS MARKET

DB 2002 H4
DB 2002 M30

G’day Surfers – BOOORIINGG!

Yesterday’s Report

 

EUR/USD’s range prior to London Open yesterday, was 34 pips – not so unusual for Asia Session. London Open to FOMC Statement…..25pips and UNTRADEABLE! The FOMC Statement pushed the Daily Range out to a meagre 48 pips! The Weekly Range to date, is just 82 pips – just as well we’re patient!

Technical Analysis

 

Yesterday’s news forced PA briefly back to 1.3700 but the market quickly displayed it’s intolerance of the now broken level. Significantly on H4 Chart, the spike failed to take out the previous Low. This is a Bullish sign and points to the Bullish Pivots being correct. Tough not to be on the Bulls back – news permitting!

The Day Ahead

 

Still looking Long but entries have been hard to find. Two nice Hotspots are set to deliver and early news might get things moving – I’m waiting patiently.
High Impact News
9:00am EUR French Flash Manufacturing PMI
9:30am EUR German Flash Manufacturing PMI
2:30pm USD Core CPI m/m
USD Unemployment Claims

4:00pm

USD Philly Fed Manufacturing Index

Thrilling Thursday everyone.

Geoff Pyne  

CERTIFIED TRADER

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