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21 JAN 2013 | Free Daily Analysis | EURUSD : FREE TRADING ROOM LAUNCHES TOMORROW21 JAN 2013 | Free Daily Analysis | EURUSD : FREE TRADING ROOM LAUNCHES TOMORROW

21 JAN 2013 | Free Daily Analysis | EURUSD : FREE TRADING ROOM LAUNCHES TOMORROW21 JAN 2013 | Free Daily Analysis | EURUSD : FREE TRADING ROOM LAUNCHES TOMORROW -->

Happy New Week Surfers – Euro back “home in the range” as we take a US BANK HOLIDAY long weekend.

Yesterday’s Report

What went up on Thursday came straight back down on Friday, EUR/USD apparently spooked again, by the psychological 1.3400 barrier. Interestingly enough, Price Action fell over 100 pips perfectly to our long term Resistance Trendline that (yet again) provided strong Support, producing a 40 pip bounce. A near doji week for our cross ended with Price Action back inside the tight consolidation range.

Technical Analysis

Friday’s High now gives us a substantial double top around that 1.3400 mark so a potential reversal is certainly there. Unsubstantiated as yet, in fact the bounce off our Trendline will not encourage the Bears. Daily Pivot has nestled with Weekly and the pair has been tested today, rejecting Price Action’s attempt to climb higher. I’m yet to see a lower High OR Low on H4 or better so can see no meaningful “backup” for the Double Top, at this stage. I therefore remain Bullish in sentiment and will seek Long entries when I resume trading tomorrow, until I see a lower High/Low, to confirm a reversal.

The Day Ahead

Two decent Hotspots promise some action today, both in good trading areas. Morose Monday & US Bank Holiday the only dampener to my enthusiasm for some pips. Our strategy calls for us to remain sidelined when the US are relaxing due to reduced liquidity, creating dangerous trading. Tomorrow however, SURFING THE PIPS 2013 launches with our FREE TRADING ROOM WEBINARS. If you are NOT registered for this exciting development in our delivery of the StP Strategy, I suggest you do so NOW. No joke – the room is near capacity – right now!

High Impact News

All Day EUR Eurogroup Meetings
All Day USD Bank Holiday

May your Monday make many memories.

Geoff Pyne  

CERTIFIED TRADER

Happy New Week Surfers – Euro back “home in the range” as we take a US BANK HOLIDAY long weekend.

Yesterday’s Report

What went up on Thursday came straight back down on Friday, EUR/USD apparently spooked again, by the psychological 1.3400 barrier. Interestingly enough, Price Action fell over 100 pips perfectly to our long term Resistance Trendline that (yet again) provided strong Support, producing a 40 pip bounce. A near doji week for our cross ended with Price Action back inside the tight consolidation range.

Technical Analysis

Friday’s High now gives us a substantial double top around that 1.3400 mark so a potential reversal is certainly there. Unsubstantiated as yet, in fact the bounce off our Trendline will not encourage the Bears. Daily Pivot has nestled with Weekly and the pair has been tested today, rejecting Price Action’s attempt to climb higher. I’m yet to see a lower High OR Low on H4 or better so can see no meaningful “backup” for the Double Top, at this stage. I therefore remain Bullish in sentiment and will seek Long entries when I resume trading tomorrow, until I see a lower High/Low, to confirm a reversal.

The Day Ahead

Two decent Hotspots promise some action today, both in good trading areas. Morose Monday & US Bank Holiday the only dampener to my enthusiasm for some pips. Our strategy calls for us to remain sidelined when the US are relaxing due to reduced liquidity, creating dangerous trading. Tomorrow however, SURFING THE PIPS 2013 launches with our FREE TRADING ROOM WEBINARS. If you are NOT registered for this exciting development in our delivery of the StP Strategy, I suggest you do so NOW. No joke – the room is near capacity – right now!

High Impact News

All Day EUR Eurogroup Meetings
All Day USD Bank Holiday

May your Monday make many memories.

Geoff Pyne  

CERTIFIED TRADER

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