G’day Surfers – welcome to the weekend.
EUR/USD spent much of yesterday heading South partly I suspect, as continued reaction to the Fed’s (no change) announcement the day before. Not until DS-2 @ 1.3160 was Support found and consolidation began. Daily Pivot (DP) remained untested, with the market making no attempt to rectify that situation. Given the high probability associated with a DP test, we were looking for Price Action to head in that direction – it didn’t eventuate so we stayed flat. Four entries this week for an early winner, two very small losses and a break even trade. On balance, a small positive outcome due to our Risk Management keeping the losses very small.
With the weeks News events behind us, it would be nice if the market settles into a Technical sequence so we can mount an assault come Monday.
The Day Ahead
Still renovating at my place – this week its PAINTING – mmmm, how long before the market re-opens???
Old houses mended,
Cost little less than new before they’re ended.
A man builds a fine house; and now he has a master, and a task for life: he is to furnish, watch, show it, and keep it in repair, the rest of his days. ~Ralph Waldo Emerson
Anyone would think there’s some better way to spend the weekend – hope you find one! Enjoy.