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20th May 2015 | Free Forex Analysis | EURUSD is in hurry

miercoles 1 miercoles 2

 

Dear surfer friends:

How did it go yesterday

When the price always falls or rises only  in one direction the magical SurfingThePips Method is not applied. Yesterday, we did not see any retracement that would guarantee us a short entry at a low risk and therefore we stayed flat.

Technical analysis

As you can see from the chart H4 the market has made a nice ABC bearish very quickly that drove the price down to several tens of pips. The Daily Pivot has not been tested for 2 and a half days. We are in the classic situation of impasse: too oversold to go down hard on the short trade, no figure of reversals that creates opportunities to buy. Any trading today  will take a low impact on our capital

Plan of the day

Testing the Daily Pivot is our favorite trade of the day. Perhaps with an ABC Area where  I drew a small red circle in the chart M30.

Significant economic news

Today at 20:00 Central European time is the infamous FOMC. Expect the storm. Obviously the market will be very nervous during our canonical hours of operation.

I hope I didn’t miss anything, goodluck with your tradings.

I see you tomorrow.

 

Daniele Angellotti Certified Trader | SurfingThePips.com
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