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21 July 2014 | Free Forex Analysis | EURUSD : MID STREAM MUSINGS

DB 2107 H4
DB 2107 M30

Happy New Week Surfers.

Yesterday’s Report

 

Having enjoyed a few days at sea, I haven’t looked at a chart since last Wednesday.  Unlike the 8 metre swell that created a LOT of boat movement, PA has hardly changed position, despite an unsuccessful lunge at the 2014 Low. It would appear I chose a good time to take a break.

Technical Analysis

 

As I seek to find my land legs, EUR/USD seeks to confirm the influence of a Bearish Pivot formation. We begin the week midway between DCZ’s 1.3475 and 1.3585. Bullish PA during Asia Session may just be the trigger for the Bears to re-enter the fray. An untested DP below will only serve to make that scenario more likely. Without the presence of a reversal pattern, I’m a fan.

The Day Ahead

 

I’d like to see a re-test of 1.3585 before committing to a Short bias because if the Bulls get a sniff above that level, it could be game on Long. I’m an observer early to see how that plays out.

High Impact News

 

Nothing today.

Magic Monday everyone.

Geoff Pyne  

CERTIFIED TRADER

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